New Issue: RBC prices $500,000 5.05% autocallable fixed coupon barrier notes on American Express

By Kiku Steinfeld

Chicago, July 25 – Royal Bank of Canada priced $500,000 of 5.05% autocallable fixed coupon barrier notes due Jan. 4, 2024 linked to American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is paid monthly.

The notes will be called at par if the stock closes at or above its initial share price on any quarterly observation date after six months.

If the notes are not called and the stock finishes at or above its 70% trigger price, the payout at maturity will be par. Otherwise, investors will receive a number of shares equal to $10,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Autocallable fixed coupon barrier notes
Underlying stock:	American Express Co.
Amount:	$500,000
Maturity:	Jan. 4, 2024
Coupon:	5.05% annual rate, paid monthly
Price:	Par of $10,000
Payout at maturity:	Par unless stock finishes below trigger price, in which case investors will receive 60.92 shares per note or, at the issuer’s option, the cash equivalent
Call:	At par if stock closes at or above initial share price on any quarterly observation date after six months
Initial share price:	$164.16
Trigger price:	$114.91; 70% of initial share price
Pricing date:	Dec. 30
Settlement date:	Jan. 4
Agent:	RBC Capital Markets, LLC
Fees:	1.75%
Cusip:	78013G3R4

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