Published on 8/18/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $6.51 million autocallable contingent coupon barrier notes tied to indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 18 – Royal Bank of Canada priced $6.51 million of autocallable contingent coupon barrier notes due Aug. 22, 2019 linked to the least performing of the S&P 500 index, 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 8.37% if each index closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes above its initial level on any observation date.
The payout at maturity will be par plus the final coupon unless any index finishes below its 75% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autoallable contingent coupon barrier notes
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| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $6,514,000
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| Maturity: | Aug. 22, 2019
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| Coupon: | 8.37%, payable quarterly if each index closes at or above 75% coupon barrier on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index
|
| Call: | At par if each index closes above initial level on any observation date
|
| Initial levels: | 2,430.01 for S&P, 1,358.94 for Russell and 3,461.97 for Stoxx
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| Trigger levels: | 1,822.51 for S&P, 1,019.205 for Russell and 2,596.48 for Stoxx; 75% of initial levels
|
| Pricing date: | Aug. 17
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| Settlement date: | Aug. 22
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| Agents: | RBC Capital Markets, LLC
|
| Fees: | 1.75%
|
| Cusip: | 78012K4Z7
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