By William Gullotti
Buffalo, N.Y., Feb. 1 – Royal Bank of Canada priced $3.81 million of trigger autocallable contingent yield notes due Jan. 30, 2025 linked to the common stock of Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 8% per year if the stock closes at or above its coupon barrier, 68.5% of its initial share price, on the related observation date.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 68.5% of the initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final share price declines from its initial share price.
UBS Financial Services LLC and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Target Corp.
|
| Amount: | $3,813,000
|
| Maturity: | Jan. 30, 2025
|
| Coupon: | 8% per year, paid quarterly if the stock closes at or above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
|
| Call: | Automatically at par plus the coupon if the stock closes at or above the initial share price on any quarterly call observation date after six months
|
| Initial level: | $212.18
|
| Coupon barrier level: | $145.34; 68.5% of initial level
|
| Downside threshold: | $145.34; 68.5% of initial level
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 30
|
| Agents: | UBS Financial Services LLC and RBC Capital Markets, LLC
|
| Fees: | 2%
|
| Cusip: | 78016C432
|
|
|
© 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.
