By Wendy Van Sickle
Columbus, Ohio, June 29 – Royal Bank of Canada priced $1.34 million of autocallable contingent coupon barrier notes due June 29, 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 6.6% if the index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be automatically called at par if the index closes its initial price on any observation date beginning on Dec. 24.
The payout at maturity will be par unless the index finishes below its 70% trigger price, in which case investors will be fully exposed to any losses.
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: | $1.34 million
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| Maturity: | June 29, 2023
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| Coupon: | 6.6%, 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 trigger price, in which case par plus return with full exposure to losses
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| Call: | Automatically at par if index closes at or above initial price on any quarterly observation date starting Dec. 24
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| Initial price: | 1,051.47
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| Coupon barrier: | 736.03, 70% of initial price
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| Trigger price: | 736.03, 70% of initial price
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| Pricing date: | June 24
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| Settlement date: | June 29
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78015KUF9
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