New Issue: RBC sells $2.69 million 15.25% fixed coupon barrier notes tied to Tesla

By William Gullotti

Buffalo, N.Y., Jan. 19 – Royal Bank of Canada priced $2.69 million of 15.25% fixed coupon barrier notes due Jan. 19, 2024 tied to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the stock finishes below its 50% barrier price, in which case investors will lose 1% for every 1% decline from the stock’s initial price.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Fixed coupon barrier notes
Underlying stock:	Tesla, Inc.
Amount:	$2,686,000
Maturity:	Jan. 19, 2024
Coupon:	15.25% per year, payable monthly
Price:	Par
Payout at maturity:	Par unless stock finishes below barrier level, in which case investors will lose 1% for every 1% decline from the stock’s initial price
Initial price:	$122.40
Barrier level:	$61.20; 50% of initial level
Pricing date:	Jan. 13
Settlement date:	Jan. 19
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016HLY4

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