By Susanna Moon
Chicago, March 24 – Royal Bank of Canada priced $82,000 of autocallable contingent coupon barrier notes due March 20, 2020 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.6% if the fund closes at or above the 60% coupon barrier 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 after one year.
The payout at maturity will be par unless the fund finishes below the 60% trigger level, in which case investors will be fully exposed to any losses.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying fund: | VanEck Vectors Gold Miners ETF
|
| Amount: | $82,000
|
| Maturity: | March 20, 2020
|
| Coupon: | 8.6%, payable quarterly if fund closes at or above 60% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless fund finishes below trigger level, in which case fully exposed to any losses
|
| Call: | At par if fund closes at or above initial level on any quarterly observation date beginning March 19, 2018
|
| Initial level: | $22.67
|
| Trigger level: | $13.60, 60% of initial level
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Agents: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78013GCV5
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
