By Wendy Van Sickle
Columbus, Ohio, June 19 – Royal Bank of Canada priced $2.82 million of autocallable contingent coupon barrier notes due June 18, 2021 linked to the lesser performing of the common stocks of Intel Corp. and Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.4% if each stock closes at or above its 50% coupon barrier on the observation date for that quarter.
Starting Dec. 17, the notes will be automatically called at par if each stock closes its initial price on any observation date.
The payout at maturity will be par unless either stock finishes below its 50% trigger price, in which case investors will be fully exposed to any losses of the least-performing stock.
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 stocks: | Intel Corp. and Micron Technology, Inc.
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Amount: | $2,815,000
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Maturity: | June 18, 2021
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Coupon: | 11.4%, payable quarterly if each stock 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 either stock finishes below trigger price, in which case par plus return of the least-performing stock
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Call: | Starting Dec. 17, automatically at par if each stock closes above initial price on any observation date
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Initial prices: | $55.11 for Intel and $58.23 for Micron
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Coupon barriers/trigger prices: | $27.56 for Intel and $29.12 for Micron; 50% of initial prices
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Pricing date: | June 15
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Settlement date: | June 20
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.25%
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Cusip: | 78013XLQ9
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