By Wendy Van Sickle
Columbus, Ohio, April 13 – Royal Bank of Canada priced $155,000 of autocallable contingent coupon barrier notes due April 11, 2019 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 9.1% 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 six months.
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
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| Underlying fund: | VanEck Vectors Gold Miners ETF
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| Amount: | $155,000
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| Maturity: | April 11, 2019
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| Coupon: | 9.1%, 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 Oct. 9, 2017
|
| Initial level: | $23.50
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| Trigger level: | $15.28, 65% of initial level
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| Pricing date: | April 7
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| Settlement date: | April 12
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 1.75%
|
| Cusip: | 78013GDN2
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