By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – Royal Bank of Canada priced $463,000 of issuer callable contingent coupon barrier notes due Jan. 11, 2022 tied to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.75% if the ETF closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be callable at par on any coupon payment date.
The payout at maturity will be par unless the ETF finishes below the 70% trigger price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Issuer callable contingent coupon barrier notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $463,000
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| Maturity: | Jan. 11, 2023
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| Coupon: | 9.75%, payable quarterly if ETF closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below trigger level, in which case shares of ETF equal to $1,000 divided by the initial share price
|
| Call: | At par on any coupon payment date
|
| Initial level: | $38.46
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| Coupon barrier/trigger price: | $26.92, 70% of initial level
|
| Pricing date: | Jan. 6
|
| Settlement date: | Jan. 11
|
| Agents: | RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78013GG41
|
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