Published on 5/1/2019 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.09 million contingent coupon barrier autocalls on Amazon, Alibaba
By Wendy Van Sickle
Columbus, Ohio, May 1 – Royal Bank of Canada priced $2.09 million of autocallable contingent coupon barrier notes due April 29, 2022 linked to the least performing of the stocks of Amazon.com, Inc. and Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 9.5% if both stocks close at or above their coupon barriers, 60% of their initial prices, on the applicable quarterly observation date.
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 starting on Oct. 28.
The payout at maturity will be par plus the final coupon unless either stock finishes below its 60% trigger price, in which case investors will lose 1% for each 1% that the least-performing stock’s final price is less than its initial price.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying stocks: | Amazon.com, Inc. and Alibaba Group Holding Ltd.
|
| Amount: | $2,086,000
|
| Maturity: | April 29, 2022
|
| Coupon: | 9.5%, payable quarterly if each stock closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below trigger price, in which case par plus return of the least-performing stock
|
| Call: | Starting Oct. 28, automatically at par if each stock closes at or above initial price on any quarterly observation date
|
| Initial prices: | $1,950.63 for Amazon, $187.09 for Alibaba
|
| Coupon barriers: | $1,170.38 for Amazon, $112.25 for Alibaba; 60% of initial prices
|
| Trigger prices: | $1,170.38 for Amazon, $112.25 for Alibaba; 60% of initial prices
|
| Pricing date: | April 26
|
| Settlement date: | April 30
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78013X5Q7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
