By Wendy Van Sickle
Columbus, Ohio, March 13 – Royal Bank of Canada priced $2.7 million of 8.15% autocallable fixed-coupon barrier notes due March 13, 2025 tied to the shares of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the coupon if the shares close at or above their initial price on any quarterly observation date after six months.
At maturity investors will receive par unless the stock finishes below its 50% barrier price, in which case investors will be fully exposed to the decline in the stock price.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable fixed-coupon barrier notes
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| Underlying stock: | Boeing Co.
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| Amount: | $2.7 million
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| Maturity: | March 13, 2025
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| Coupon: | 8.15% per year, payable monthly
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| Price: | Par
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| Call: | At par plus coupon if shares close above initial level on any quarterly call observation date after six months
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| Payout at maturity: | Par unless stock finishes below barrier level, in which case full exposure to loss of stock
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| Initial price: | $207.20
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| Barrier level: | $103.50, 50% of initial level
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| Pricing date: | March 8
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| Settlement date: | March 13
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 1.75%
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| Cusip: | 78015QEK3
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