By Wendy Van Sickle
Columbus, Ohio, Nov. 9 – Royal Bank of Canada priced $1.25 million of autocallable contingent coupon barrier notes due Nov. 14, 2019 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8% if the fund closes at or above the 50% barrier price on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par unless the fund finishes below the 50% trigger price, in which case investors will lose 1% for each 1% decline.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying ETF: | VanEck Vectors Gold Miners exchange-traded fund
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| Amount: | $1.25 million
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| Maturity: | Nov. 14, 2019
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| Coupon: | 8%, payable quarterly if fund closes at or above barrier price on observation date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless fund finishes below trigger price, in which case 1% loss for each 1% decline
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| Call: | At par if fund closes at or above initial price on any quarterly observation date
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| Initial price: | $24.08
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| Barrier/trigger price: | $12.04, 50% of initial price
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| Pricing date: | Nov. 7
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| Settlement date: | Nov. 15
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78012KVN4
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