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Published on 9/6/2019 in the Prospect News Structured Products Daily.

New Issue: RBC prices $2.05 million contingent coupon barrier notes linked to indexes

By Angela McDaniels

Tacoma, Wash., Sept. 6 – Royal Bank of Canada priced $2.05 million of callable contingent coupon barrier notes due Sept. 10, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 12.15% per year if each index closes at or above its trigger level, 75% of its initial level, on each trading day during that quarter.

The notes are callable at par on any coupon payment date other than the final one.

The payout at maturity will be par unless any index finishes below its trigger level, in which case investors will be exposed to the decline of the least-performing index from its initial level.

RBC Capital Markets, LLC is the underwriter.

Issuer:Royal Bank of Canada
Issue:Callable contingent coupon barrier notes
Underlying indexes:S&P 500, Russell 2000 and Nasdaq-100
Amount:$2.05 million
Maturity:Sept. 10, 2021
Coupon:12.15%, payable quarterly if each index closes at or above trigger level on each trading day during that quarter
Price:Par
Payout at maturity:Par unless any index finishes below trigger level, in which case exposure to decline of least-performing index from initial level
Call option:Callable at par on any coupon payment date other than final one
Initial levels:2,937.78 for S&P 500, 1,484.758 for Russell 2000 and 7,719.247 for Nasdaq-100
Trigger levels:2,203.34 for S&P 500, 1,113.569 for Russell 2000 and 5,789.435 for Nasdaq-100, or 75% of initial levels
Pricing date:Sept. 4
Settlement date:Sept. 9
Underwriter:RBC Capital Markets, LLC
Fees:1.5%
Cusip:78015KCJ1

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