Published on 9/29/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.25 million autocallable contingent coupon barrier notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – Royal Bank of Canada priced $1.25 million of autocallable contingent coupon barrier notes due Jan. 12, 2027 linked to the performance of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 6% per year if the worst performing index closes at or above its trigger level, 65% of its initial level, on the relevant observation date.
The notes will be called at par plus coupon if the worst performing index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the worst performing index finishes below its trigger level, in which case investors will be fully exposed to the decline of the worst performing index from its initial level.
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 indexes: | Russell 2000 index, S&P 500 index, Euro Stoxx 50 index
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| Amount: | $1.25 million
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| Maturity: | Jan. 12, 2027
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| Coupon: | 6%, payable quarterly if worst performing index closes at or above trigger level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If all indexes finishes at or above the trigger level, par plus the final coupon; otherwise, investors will be fully exposed to the worst performing index from its initial level
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| Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date after one year
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| Initial levels: | 2,252.847 for Russell, 4,358.13 for S&P, 4,078.53 for Stoxx
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| Trigger levels: | 1,464.351 for Russell, 2,832.78 for S&P, 2,651.04 for Stoxx; 65% of initial levels
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| Pricing date: | July 7
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| Settlement date: | July 12
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 0.7%
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| Cusip: | 78016EJH1
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