By Wendy Van Sickle
Columbus, Ohio, June 10 – Royal Bank of Canada priced $6.72 million of trigger autocallable contingent yield notes due May 17, 2024 linked to the common stock of CrowdStrike Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 10% per year if the stock closes at or above its coupon barrier, 56.5% of its initial share price, on the related observation date.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 56.5% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price declines from its initial share price.
UBS Financial Services LLC and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | CrowdStrike Holdings, Inc.
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| Amount: | $6,717,900
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| Maturity: | May 17, 2024
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| Coupon: | 10% per year, paid quarterly if the stock closes at or above its coupon barrier on the related observation date
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
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| Call: | Automatically at par plus the coupon if the stock closes at or above the initial share price on any quarterly call observation date after six months
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| Initial level: | $190.64
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| Coupon barrier level: | $107.71; 56.5% of initial level
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| Downside threshold: | $107.71; 56.5% of initial level
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| Pricing date: | May 14
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| Settlement date: | May 19
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| Agents: | UBS Financial Services LLC and RBC Capital Markets, LLC
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| Fees: | 2%
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| Cusip: | 78014U137
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