By Wendy Van Sickle
Columbus, Ohio, Sept. 15 – Royal Bank of Canada priced $2 million of issuer callable contingent coupon barrier notes due Sept. 18, 2019 linked to Wynn Resorts, Ltd. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.5% if the stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes may be called at par on any coupon payment date.
The payout at maturity will be par unless the stock finishes below the 70% trigger level, in which case investors will receive a number shares equal to $1,000 divided by the initial share price.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Issuer callable contingent coupon barrier notes
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| Underlying stock: | Wynn Resorts, Ltd.
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| Amount: | $2 million
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| Maturity: | Sept. 18, 2019
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| Coupon: | 11.5%, payable quarterly if stock closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger level, in which case shares of stock equal to $1,000 divided by the initial share price
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| Call option: | At par on any coupon payment date
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| Initial level: | $145.47
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| Trigger level: | $101.83, 70% of initial levels
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| Pricing date: | Sept. 13
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| Settlement date: | Sept. 18
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 1%
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| Cusip: | 78013GEW1
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