By William Gullotti
Buffalo, N.Y., July 27 – Royal Bank of Canada priced $13 million of 7.3% airbag autocallable yield notes due July 27, 2022 linked to the common stock of Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if the shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, 90% of the initial share price, in which case the payout will be a number of the shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Airbag autocallable yield notes
|
| Underlying stock: | Walgreens Boots Alliance, Inc.
|
| Amount: | $13,000,000
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| Maturity: | July 27, 2022
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| Coupon: | 7.3%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than conversion price, in which case investors will receive 23.9006 shares per note
|
| Call: | Automatically at par if shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $46.49
|
| Conversion price: | $41.84, 90% of initial share price
|
| Pricing date: | July 22
|
| Settlement date: | July 27
|
| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78014U384
|
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