By Wendy Van Sickle
Columbus, Ohio, June 19 – Royal Bank of Canada priced $1.05 million of autocallable contingent coupon barrier notes due June 19, 2018 linked to the common stocks of Alibaba Group Holding Ltd. and General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.75% if each stock closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be automatically called at par if each stock closes at or above its initial price on any observation date.
The payout at maturity will be par unless either stock finishes below the 80% trigger level, in which case investors will receive shares of the worse performing stock reflecting the stock’s loss form its initial level.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
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| Underlying stocks: | Alibaba Group Holding Ltd. and General Electric Co.
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| Amount: | $1,047,000
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| Maturity: | June 19, 2018
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| Coupon: | 13.75%, payable quarterly if each stock closes at or above 80% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below trigger level, in which case shares reflecting 1% loss for each 1% decline of worse performing stock
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| Call: | At par if each stock closes at or above initial price on any observation date
|
| Initial levels: | $136.67 for Alibaba, $28.69 for GE
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| Trigger levels/coupon barriers: | $109.34 for Alibaba, $22.95 for GE; 80% of initial levels
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| Pricing date: | June 14
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| Settlement date: | June 19
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 1.25%
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| Cusip: | 78013GEF8
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