Published on 9/3/2019 in the Prospect News Structured Products Daily.
New Issue: RBC sells $5.58 million issuer callable contingent coupon barrier notes tied to three indexes
Chicago, Sept. 3 – Royal Bank of Canada priced $5.58 million issuer callable contingent coupon barrier notes due Aug. 10, 2021 tied to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10.4% if all three indexes close above their 75% coupon barrier on each day during the observation period for that quarter.
Then notes may be called at par plus any coupon due at the option of the issuer on any quarterly coupon payment date other than the final coupon payment date.
Investors will receive par plus the contingent coupon if the final level of the least performing index is above its 75% trigger level.
Otherwise, investors will be fully exposed to the losses of the least performing index.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Issuer callable contingent coupon barrier note
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| Underlying indexes: | S&P 500 index, the Russell 2000 index and the Nasdaq-100 index
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| Amount: | $5,575,000
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| Maturity: | Aug. 10, 2021
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| Coupon: | 10.4%, contingent quarterly if all three indexes close above their 75% coupon barriers
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any index closes below its 75% trigger level, in which case full exposure to losses of least performing index
|
| Call: | At par plus any coupon due at the option of the issuer on any quarterly coupon payment date
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| Initial levels: | 2,844.74 for S&P 500, 1,487.414 for Russell and 7,415.691 for Nasdaq
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| Coupon barrier levels: | 2,133.56 for S&P 500, 1,115.561 for Russell and 5,561.768 for Nasdaq, 75% of initial levels
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| Trigger levels: | 2,133.56 for S&P 500, 1,115.561 for Russell and 5,561.768 for Nasdaq, 75% of initial levels
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| Pricing date: | Aug. 5
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| Settlement date: | Aug. 8
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 1.5%
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| Cusip: | 78013XYB8
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