By Sarah Lizee
Olympia, Wash., April 26 – Royal Bank of Canada priced $1.2 million of autocallable contingent coupon barrier notes due April 29, 2021 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 8% if the ETF closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if the ETF closes its initial level on any quarterly observation date after six months.
A trigger event will occur if on any trading day during the life of the notes the ETF closes below its trigger level, 70% of its initial level.
If the notes are not previously called, the payout at maturity will be par unless a trigger event has occurred and the final level of the ETF is less than the initial level, in which case investors will have full exposure to the decline of the ETF from its initial level.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1.2 million
|
| Maturity: | April 29, 2021
|
| Coupon: | 8%, 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 initial level and ever closes below trigger level, in which case full exposure to ETF’s decline
|
| Call: | At par if ETF closes above initial level on any quarterly review date after six months
|
| Initial level: | $21.02
|
| Trigger/coupon barrier: | $14.71, 70% of initial level
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 0.75%
|
| Cusip: | 78013X5G9
|
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