By Sarah Lizee
Olympia, Wash., Dec. 27 – Royal Bank of Canada priced $925,000 of autocallable contingent coupon barrier notes due Dec. 27, 2021 linked to the worst performing of the common stocks of Johnson & Johnson, Kraft Heinz Co. and Procter & Gamble Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 10.15% if each stock closes above its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each stock closes above its initial price on any quarterly observation date, starting June 21, 2019.
The payout at maturity will be par plus the final coupon unless any stock finishes below the 65% trigger level, in which case investors will lose 1% for each 1% that the worst-performing stock’s final level is less than its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying stocks: | Johnson & Johnson, Kraft Heinz Co. and Procter & Gamble Co
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| Amount: | $925,000
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| Maturity: | Dec. 27, 2021
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| Coupon: | 10.15%, payable quarterly if each stock closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger price, in which case par plus return of the least-performing stock
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| Call: | At par if each stock closes above initial price on any observation date after six months
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| Initial prices: | $128.09 for Johnson, $44.05 for Kraft and $90.97 for Procter
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| Coupon barrier/triggers: | $83.26 for Johnson, $28.63 for Kraft and $59.13 for Procter; 65% of initial prices
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78013XU71
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