By Wendy Van Sickle
Columbus, Ohio, Oct. 1 – Royal Bank of Canada priced $6.8 million autocallable contingent coupon barrier notes due Oct. 3, 2024 tied to the shares of Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 7.5% if the stock closes above its 70% coupon barrier on the corresponding observation date.
The notes will be called at par plus the coupon if the shares close at or above their initial level on any quarterly observation date after six months.
Investors will receive par plus the contingent coupon if the final level of the stock is above its 70% trigger level.
Otherwise, investors will be fully exposed to the loss in the shares.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Autocallable contingent coupon barrier notes
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Underlying stock: | Walgreens Boots Alliance, Inc.
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Amount: | $6,801,000
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Maturity: | Oct. 3, 2024
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Coupon: | 7.5% per year, paid quarterly if stock closes above coupon barrier on the related observation date
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless stock closes below trigger level, in which case full exposure to losses of stock
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Call: | Automatically at par plus coupon due if shares close at or above initial level on any quarterly observation date after six months
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Initial price: | $48.09
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Coupon barrier level: | $33.68; 70% of initial level
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Trigger level: | $33.68; 70% of initial level
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Pricing date: | Sept. 28
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Settlement date: | Sept. 30
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.25%
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Cusip: | 78016E4Z7
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