New Issue: RBC prices $4.04 million 8.15% one-year airbag autocallables on Broadcom

By Tali Rackner

Norfolk, Va., Dec. 29 – Royal Bank of Canada priced $4.04 million of 8.15% airbag autocallable yield notes due Jan. 5, 2018 linked to the common stock of Broadcom Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called automatically at par if Broadcom shares close at or above the initial share price on any quarterly observation date beginning March 28, 2017.

The payout at maturity will be par unless the final share price is less than the 87% conversion price, in which case the payout will be 6.3788 Broadcom shares per $1,000 note.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Airbag autocallable yield notes
Underlying stock:	Broadcom Ltd.
Amount:	$4,041,000
Maturity:	Jan. 5, 2018
Coupon:	8.15%, payable monthly
Price:	Par
Payout at maturity:	Par unless final share price is less than conversion price, in which case 6.3788 Broadcom shares per $1,000 note
Call:	Automatically at par if shares close at or above initial share price on any quarterly observation date beginning March 28, 2017
Initial share price:	$180.19
Conversion price:	$156.77, 87% of initial share price
Pricing date:	Dec. 28
Settlement date:	Dec. 30
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1.5%
Cusip:	78014E224

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