By Susanna Moon
Chicago, July 1 – Royal Bank of Canada priced $3.55 million of contingent income callable notes due June 28, 2019 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.1% if each index closes at or above its 60% coupon barrier level on the observation date for that quarter.
The notes are callable on any quarterly call date.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Contingent income callable notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $3.55 million
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| Maturity: | June 28, 2019
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| Coupon: | 6.1% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless either index finishes below barrier level, in which case exposure to decline of worst performing index
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| Call option: | At par on any quarterly call date
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| Initial levels: | 1,279.79 for Russell and 3,621.37 for Stoxx
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| Barrier levels: | 60% of initial levels
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| Pricing date: | June 26
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| Settlement date: | June 30
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78012KEP8
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