New Issue: RBC prices $3 million 8.8% coupon callable notes linked to three stocks

By Susanna Moon

Chicago, Sept. 19 – Royal Bank of Canada priced $3 million of 8.8% fixed-coupon callable notes due March 15, 2019 linked to the lesser performing of the common stocks of Walt Disney Co., Amazon.com, Inc. and Honeywell International Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes will be callable at par on any coupon payment date.

The payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Fixed coupon callable notes
Underlying stocks:	Walt Disney Co. (Symbol: DIS), Amazon.com, Inc. (Symbol: AMZN) and Honeywell International Inc. (Symbol: HON)
Amount:	$3 million
Maturity:	March 15, 2019
Coupon:	8.8%, payable quarterly
Price:	Par
Payout at maturity:	Par unless any stock finishes below 65% trigger level, in which case shares of the worst performing stock equal to $1,000 divided by the initial share price
Call option:	At par on any coupon payment date
Initial levels:	$98.82 for Disney, $980.57 for Amazon and $138.41 for Honeywell
Trigger levels:	$63.39 for Disney, $637.37 for Amazon and $89.97 for Honeywell; 65% of initial levels
Pricing date:	Sept. 12
Settlement date:	Sept. 15
Agents:	RBC Capital Markets, LLC
Fees:	0.5%
Cusip:	78012K7B7

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