By Devika Patel
Knoxville, Tenn., Feb. 2 – Royal Bank of Canada priced $922,000 of autocallable contingent coupon barrier notes due Jan. 29, 2021 linked to the stocks of Celgene Corp. and GlaxoSmithKline plc, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.3% if each stock closes at or above the 70% coupon barrier level on the observation date for that quarter.
The notes will be called at par plus the coupon if each stock closes at or above its initial price on any quarterly observation date beginning July 26, 2018.
The payout at maturity will be par plus the coupon unless either stock finishes below the 70% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock from 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: | Celgene Corp. (Symbol: CELG) and GlaxoSmithKline plc (Symbol: GSK)
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| Amount: | $922,000
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| Maturity: | Jan. 29, 2021
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| Coupon: | 9.3%, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus the coupon unless either stock finishes below trigger level, in which case 1% loss for each 1% decline of worst performing stock from initial level
|
| Call: | At par plus coupon if each stock closes at or above initial price on any quarterly observation date beginning July 26, 2018
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| Initial levels: | $105.17 for Celgene and $39.04 for GlaxoSmithKline
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| Coupon barrier/Trigger levels: | $73.62 for Celgene and $27.33 for GlaxoSmithKline, 70% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 2.25%
|
| Cusip: | 78013XEH7
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