Chicago, March 28 – Royal Bank of Canada priced $6.64 million of autocallable contingent coupon barrier notes due May 2, 2024 linked to an equally-weighted basket consisting of the stocks of ConocoPhillips and Marathon Oil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10% per year if the basket closes at or above its trigger price, 60% of its initial price, on the observation date for that quarter.
The notes will be called at par if the basket closes at or above its initial price on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless the basket finishes below its trigger price, in which case investors will be fully exposed to the decline.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
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| Underlying basket: | ConocoPhillips and Marathon Oil Corp., basket equally weighted
|
| Amount: | $6,642,000
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| Maturity: | May 2, 2024
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| Coupon: | 10%, payable quarterly if basket closes at or above trigger price on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless basket finishes below trigger price, in which case full exposure to decline
|
| Call: | At par if basket closes at or above initial price on any quarterly observation date after six months
|
| Initial share prices: | $53.04 for COP and $11.75 for Marathon
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| Trigger level: | 60% of initial share price
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| Pricing date: | April 28, 2021
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| Settlement date: | April 30, 2021
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
|
| Cusip: | 78016EYL5
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