By Susanna Moon
Chicago, Dec. 12 – Royal Bank of Canada priced $455,000 of autocallable contingent coupon barrier notes due Nov. 22, 2019 linked to JPMorgan Chase & Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 8% if the stock closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its 80% trigger level, in which case investors will be fully exposed to any losses.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying asset: | JPMorgan Chase & Co. (Symbol: JPM)
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| Amount: | $455,000
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| Maturity: | Nov. 22, 2019
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| Coupon: | 8% annualized, payable quarterly if stock closes at or above 80% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below 80% trigger, in which case 1% loss per 1% decline
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| Call: | At par if stock closes at or above initial level on any review date
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| Initial level: | $110.83
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| Trigger level: | $88.66, 80% of initial level
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| Pricing date: | Nov. 19
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| Settlement date: | Nov. 23
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 1.5%
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| Cusip: | 78013GHD0
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