By Wendy Van Sickle
Columbus, Ohio, July 5 – Royal Bank of Canada priced $4.22 million of autocallable contingent coupon barrier notes with memory coupon due July 3, 2025 linked to Boeing Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.25% if the stock closes at or above its 50% coupon barrier on the observation date for that quarter, plus any previously unpaid coupon.
The notes will be automatically called at par if the stock closes its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the stock finishes below its 50% trigger price, in which case investors will be fully exposed to the decline.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes with memory coupon
|
| Underlying stock: | Boeing Co.
|
| Amount: | $4,222,000
|
| Maturity: | July 3, 2025
|
| Coupon: | 11.25%, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter, plus any previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below trigger price, in which case full exposure to loss
|
| Call: | At par if stock closes above initial level on any quarterly review date after six months
|
| Initial level: | $138.70
|
| Trigger price/coupon barrier: | $69.35, 50% of initial level
|
| Pricing date: | June 28
|
| Settlement date: | June 30
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78016FMF8
|
|
|
© 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.
