By Susanna Moon
Chicago, July 5 – Royal Bank of Canada priced $1.01 million of 6.85% airbag autocallable yield notes due June 15, 2018 linked to Mylan NV stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the 90% conversion price, in which case the payout will be a number of Mylan shares number of shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Airbag autocallable yield notes
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| Underlying stock: | Mylan NV (Symbol: MYL)
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| Amount: | $1,008,000
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| Maturity: | June 15, 2018
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| Coupon: | 6.85%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case 27.7162 Mylan shares
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| Call: | At par if shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $40.09
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| Conversion price: | $36.08, 90% of initial share price
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| Pricing date: | June 9
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| Settlement date: | June 14
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 1.5%
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| Cusip: | 78014E828
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