By Susanna Moon
Chicago, May 9 – Royal Bank of Canada priced $2 million of callable contingent coupon barrier notes due May 8, 2019 linked to Home Depot, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.85% if the stock closes at or above the 80% coupon barrier on the observation date for that quarter.
The notes are callable at par on any quarterly observation date beginning Nov. 1, 2017.
The payout at maturity will be par unless the stock finishes below the 80% trigger level, in which case investors will lose 1% for each 1% decline.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Callable contingent coupon barrier notes
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| Underlying stock: | Home Depot, Inc. (Symbol: HD)
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| Amount: | $2 million
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| Maturity: | May 8, 2019
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| Coupon: | 7.85%, payable quarterly if 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 stock finishes below 80% trigger, in which case 1% loss for each 1% decline
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| Call option: | At par if on any quarterly observation date beginning Nov. 1, 2017
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| Initial level: | $155.00
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| Trigger level: | $124.00, 80% of initial level
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| Pricing date: | May 3
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| Settlement date: | May 8
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 0.95%
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| Cusip: | 78013GDZ5
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