By Susanna Moon
Chicago, Dec. 12 – Royal Bank of Canada priced $297,000 of autocallable contingent coupon barrier notes due Nov. 22, 2019 linked to General Motors Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 11.5% if the stock closes at or above its 72% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its 72% trigger level, in which case investors will be fully exposed to any losses.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Autocallable contingent coupon barrier notes
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Underlying asset: | General Motors Co. (Symbol: GM)
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Amount: | $297,000
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Maturity: | Nov. 22, 2019
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Coupon: | 11.5% annualized, payable quarterly if stock closes at or above 72% 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 72% trigger, in which case 1% loss per 1% decline
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Call: | At par if stock closes at or above initial level on any review date
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Initial level: | $35.68
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Trigger level: | $25.69, 72% of initial level
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Pricing date: | Nov. 19
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Settlement date: | Nov. 23
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Agents: | RBC Capital Markets, LLC
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Fees: | 1.5%
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Cusip: | 78013GHE8
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