By Devika Patel
Knoxville, Tenn., Dec. 20 – Royal Bank of Canada priced $2.01 million of autocallable contingent coupon barrier notes due Dec. 19, 2019 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10.2% if the fund closes at or above the 60% trigger level on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial price on any quarterly observation date on or after Dec. 18, 2017.
The payout at maturity will be par unless the fund finishes below the 60% trigger level, in which case investors will lose 1% for each 1% decline.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
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| Underlying fund: | VanEck Vectors Gold Miners exchange-traded fund
|
| Amount: | $2,014,000
|
| Maturity: | Dec. 19, 2019
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| Coupon: | 10.2%, payable quarterly if fund closes at or above trigger level on observation date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless fund finishes below trigger level, in which case 1% loss for each 1% decline
|
| Call: | At par if fund closes at or above initial price on any quarterly observation date on or after Dec. 18, 2017
|
| Initial levels: | $19.08
|
| Trigger levels: | $11.45; 60% of initial levels
|
| Pricing date: | Dec. 16
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| Settlement date: | Dec. 21
|
| Agents: | RBC Capital Markets, LLC
|
| Fees: | 1.75%
|
| Cusip: | 78012KWF0
|
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