By Kiku Steinfeld
Chicago, Oct. 25 – Royal Bank of Canada priced $981,000 of 5.5% autocallable fixed-coupon barrier notes due Aug. 1, 2022 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if the fund closes at or above its initial level on any quarterly observation date after six months.
The payout will be par unless the fund has finished below its 75% barrier level, in which case investors will lose 1% for each 1% decline of the fund from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable fixed-coupon barrier notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $981,000
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| Maturity: | Aug. 1, 2022
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| Coupon: | 5.5%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless fund has finished below barrier level, in which case investors will lose 1% for each 1% decline of least-performing fund from its initial level
|
| Call: | At par if fund closes at or above initial level on any quarterly observation date after six months
|
| Initial fund level: | $33.68
|
| Barrier level: | $25.26; 75% of initial level
|
| Pricing date: | July 27
|
| Settlement date: | July 30
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 1%
|
| Cusip: | 78016EFV4
|
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