Published on 6/7/2022 in the Prospect News Structured Products Daily.
New Issue: RBC sells $500,000 contingent coupon barrier notes on Tesla
Chicago, June 7 – Royal Bank of Canada priced $500,000 of contingent coupon barrier notes due Nov. 28, 2022 linked to the common stock of Tesla Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annual rate of 14% if the stock closes at or above its coupon barrier price, 60% of its initial price, on the corresponding observation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below its 60% trigger price, in which case investors will be fully exposed to the decline, payable in cash or shares at the issuer’s option.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Contingent coupon barrier notes
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Underlying stock: | Tesla Inc.
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Amount: | $500,000
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Maturity: | Nov. 28, 2022
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Coupon: | 14% annual rate, payable monthly if stock closes at or above coupon barrier price on the corresponding observation date
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Price: | Par of $10,000
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Payout at maturity: | Par plus the final coupon unless stock finishes below trigger price, in which case full exposure to decline, payable in shares or cash at issuer’s option
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Initial share price: | $1,156.87
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Coupon barrier price: | $694.12; 60% of initial share price
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Trigger price: | $694.12; 60% of initial share price
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Physical delivery amount: | 8.64 shares
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Pricing date: | Nov. 22, 2021
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Settlement date: | Nov. 26, 2021
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 1%
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Cusip: | 78013G2S3
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