New Issue: RBC sells $1.96 million digital plus barrier notes linked to Alibaba

By Wendy Van Sickle

Columbus, Ohio, Dec. 14 – Royal Bank of Canada priced $1.96 million of 0% digital plus barrier notes due Dec. 10, 2021 tied to the American Depository Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

If the stock finishes at or above the 80% barrier level, the payout at maturity will be par plus the greater of the stock return and 8% up to a maximum payout of par plus 20%.

If the stock finishes below the barrier level, investors will receive a number of shares of Alibaba stock equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital plus barrier notes
Underlying stock:	Alibaba Group Holding Ltd.
Amount:	$1,957,000
Maturity:	Dec. 10, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the stock finishes at or above the barrier price, par plus greater of stock return and 8% up to a maximum payout of par plus 20%; otherwise, a number of shares equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares
Initial price:	$263.36
Barrier price:	$210.69, 80% of initial price
Pricing date:	Nov. 30
Settlement date:	Dec. 3
Agent:	RBC Capital Markets, LLC
Fees:	2%
Cusip:	78013GYW9

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