Published on 12/21/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.58 million 8.2% one-year airbag autocallables on Expedia
By Wendy Van Sickle
Columbus, Ohio, Dec. 21 – Royal Bank of Canada priced $1.58 million of 8.2% airbag autocallable yield notes Dec. 26, 2017 linked to Expedia, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if Expedia shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the 86% conversion price, in which case the payout will be 9.9671 Expedia shares per $1,000 note.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Airbag autocallable yield notes
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| Underlying stock: | Expedia, Inc.
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| Amount: | $1,584,000
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| Maturity: | Dec. 26, 2017
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| Coupon: | 8.2%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case 9.9671 Expedia shares per $1,000 note
|
| Call: | Automatically at par if shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $116.66
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| Conversion price: | $100.33, 86% of initial share price
|
| Pricing date: | Dec. 16
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| Settlement date: | Dec. 21
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 1.5%
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| Cusip: | 78014E174
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