Published on 8/13/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $203,000 callable contingent coupon barrier notes on Discovery
By Kiku Steinfeld
Chicago, Aug. 13 – Royal Bank of Canada priced $203,000 of callable contingent coupon barrier notes due July 20, 2023 linked to the common stock of Discovery, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 12.25% if the stock closes at or above the 70% coupon barrier price on the observation date for that quarter.
The notes may be called at par plus any contingent coupon on any quarterly coupon payment date after six months.
The payout at maturity will be par unless the stock finishes below the 70% barrier price, in which case investors will receive a number of Discovery shares equal to the principal divided by the initial share price, or, at the issuer’s option, the cash equivalent.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
|
Issue: | Callable contingent coupon barrier notes
|
Underlying stock: | Discovery, Inc.
|
Amount: | $203,000
|
Maturity: | July 20, 2023
|
Coupon: | 12.25%, payable quarterly if stock closes at or above coupon barrier price on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless stock finishes below trigger price, in which case 35.49 shares or, at issuer’s option, cash equivalent
|
Call: | At par plus contingent coupon on any quarterly coupon payment date after six months
|
Initial price: | $28.18
|
Coupon/barrier price: | $19.73, 70% of initial price
|
Pricing date: | July 16
|
Settlement date: | July 21
|
Agent: | RBC Capital Markets, LLC
|
Fees: | 1.75%
|
Cusip: | 78013GV44
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.