By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – Royal Bank of Canada priced $5.63 million of autocallable contingent coupon barrier notes due Dec. 30, 2021 linked to the least performing of the common stocks of Qualcomm Inc. and Palo Alto Networks, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.75% if each stock closes at or above its 60% coupon barrier on the observation date for that quarter in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par plus the coupon if each stock closes above its initial price on any observation date.
The payout at maturity will be par unless any stock finishes below its 60% trigger price, in which case investors will be fully exposed to any losses of the least-performing stock.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying stocks: | Qualcomm Inc. and Palo Alto Networks, Inc.
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| Amount: | $5,633,000
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| Maturity: | Dec. 30, 2021
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| Coupon: | 9.75%, payable quarterly if each stock closes at or above coupon barrier on observation date for that quarter in which case a coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger price, in which case par plus return of the least-performing stock
|
| Call: | At par plus coupon if each stock closes above initial price on any observation date
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| Initial prices: | $88.80 for Qualcomm and $233.27 for Palo Alto Networks
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| Coupon barrier/triggers: | $53.28 for Qualcomm and $139.96 for Palo Alto Networks; 60% of initial prices
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| Pricing date: | Dec. 27
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| Settlement date: | Dec. 31
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78015KKJ2
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