Published on 12/7/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $701,000 callable contingent coupon barrier notes on EOG Resources
By Wendy Van Sickle
Columbus, Ohio, Dec. 7 – Royal Bank of Canada priced $701,000 of issuer callable contingent coupon barrier notes due Aug. 22, 2023 linked to EOG Resources, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.25% if the stock closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be callable at par on any quarterly coupon payment date.
The payout at maturity will be par unless the stock finishes below the 65% trigger price, in which case investors will receive a number shares equal to $1,000 divided by the initial share price.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Issuer callable contingent coupon barrier notes
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Underlying stock: | EOG Resources, Inc.
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Amount: | $701,000
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Maturity: | Aug. 22, 2023
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Coupon: | 11.25%, payable quarterly if 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 stock finishes below trigger level, in which case 15.16 shares of stock equal to $1,000 divided by the initial share price
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Call: | At par on any quarterly coupon payment date
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Initial level: | $65.97
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Coupon barrier/trigger price: | $42.88, 65% of initial level
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Pricing date: | Aug. 17
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Settlement date: | Aug. 20
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Agent: | RBC Capital Markets, LLC
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Fees: | 1.5%
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Cusip: | 78013GX42
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