By Wendy Van Sickle
Columbus, Ohio, Dec. 16 – Royal Bank of Canada priced $3.33 million of autocallable contingent coupon barrier notes due Dec. 14, 2023 linked to the S&P 500 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 4.4% if the index closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be automatically called at par plus the coupon if the index closes above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless the index finishes below its 80% knock-in level, in which case investors will be fully exposed to the loss.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying index: | S&P 500 Value index
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| Amount: | $3.33 million
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| Maturity: | Dec. 14, 2023
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| Coupon: | 4.4%, payable each quarter that index 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 index finishes below its knock-in level, in which case full exposure to loss
|
| Call: | Automatically at par plus coupon if index closes at or above initial level on any quarterly call observation date after six months
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| Initial level: | 1,252.0
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| Coupon barrier: | 1,000.6, 80% of initial level
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| Knock-in level: | 1,000.6. 80% of initial level
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| Pricing date: | Dec. 11
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| Settlement date: | Dec. 16
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78016EUK1
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