By Wendy Van Sickle
Columbus, Ohio, Feb. 18 – Royal Bank of Canada priced $1.57 million of autocallable contingent coupon barrier notes due Feb. 8, 2024 linked 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 7.75% if the ETF closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be automatically called at par plus the coupon if the ETF closes above its initial share price on any quarterly call observation date after six months.
The payout at maturity will be par unless the ETF finishes below its 70% trigger price, in which case investors will be fully exposed to the loss.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
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| Amount: | $1.57 million
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| Maturity: | Feb. 8, 2024
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| Coupon: | 7.75%, payable each quarter that ETF closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless ETF finishes below its trigger price, in which case full exposure to loss
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| Call: | Automatically at par plus coupon if ETF closes at or above initial share price on any quarterly call observation date after six months
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| Initial price: | $34.61
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| Coupon barrier/trigger price: | $24.23, 70% of initial price
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| Pricing date: | Feb. 5
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| Settlement date: | Feb. 10
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78016E5P8
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