By Wendy Van Sickle
Columbus, Ohio, Nov. 12 – Royal Bank of Canada priced $5.31 million of trigger autocallable contingent yield notes due Nov. 9, 2023 linked to the common stock of Twitter, 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 11.25% if the stock closes at or above its coupon barrier level, 51% of its initial level, on the related quarterly observation date.
The notes will be called at par of $10 plus the coupon if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the stock finishes below its 51% downside threshold level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
Issuer: | Royal Bank of Canada
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying stock: | Twitter, Inc.
|
Amount: | $5,314,500
|
Maturity: | Nov. 9, 2023
|
Coupon: | 11.25%, payable each quarter that stock closes at or above coupon barrier on observation date for that quarter
|
Price: | Par of $10
|
Call: | Par plus coupon if stock closes at or above initial level on any quarterly observation date after six months
|
Payout at maturity: | Par unless stock finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
|
Initial level: | $43.12
|
Downside threshold/coupon barrier: | $21.99, 51% of initial level
|
Pricing date: | Nov. 6
|
Settlement date: | Nov. 12
|
Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
Fees: | 2%
|
Cusip: | 78014M358
|
|
© 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.