By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – Royal Bank of Canada priced $1.1 million 8.25% fixed coupon callable securities due Sept. 25, 2017 linked to the common stock of Celgene Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any coupon payment date.
The payout at maturity will be par plus the coupon unless the shares finish below the 75% trigger level, in which case investors will receive Celgene shares equal to the principal amount divided by the initial stock price.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Fixed-coupon callable notes
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| Underlying stock: | Celgene Corp. (Symbol: CELG)
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| Amount: | $1.1 million
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| Maturity: | Sept. 25, 2017
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| Coupon: | 8.25%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless stocks finishes below trigger level, in which case full exposure to any losses
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| Call option: | At par quarterly
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| Initial level: | $108.42
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| Trigger level: | $81.31, 75% of initial level
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 22
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 1.85%
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| Cusip: | 78013GBN4
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