By Wendy Van Sickle
Columbus, Ohio, Sept. 5 – Royal Bank of Canada priced $580,000 of autocallable contingent coupon barrier notes with memory coupon due Sept. 3, 2026 linked to the common stock of U.S. Bancorp, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 11.75% if the stock closes at or above its coupon barrier price, 65% of its initial price, on the corresponding observation date, plus any previously unpaid coupons.
The notes will be called at par plus the coupon 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, the payout at maturity will be par plus the final coupon unless the stock finishes below its 65% trigger price, in which case investors will be fully exposed to the decline.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable contingent coupon barrier notes with memory coupon
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| Underlying stock: | U.S. Bancorp
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| Amount: | $580,000
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| Maturity: | Sept. 3, 2026
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| Coupon: | 11.75% annual rate, payable quarterly if stock closes at or above trigger price on the corresponding observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless stock finishes below trigger price, in which case full exposure to decline
|
| Call: | At par plus coupon if stock closes at or above initial share price on any quarterly observation date after six months
|
| Initial share price: | $36.48
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| Coupon barrier price: | $23.71; 65% of initial share price
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| Trigger price: | $23.71; 65% of initial share price
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
|
| Cusip: | 78016NWH6
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