Published on 8/11/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $5.06 million 9% fixed-coupon barrier notes tied to Tesla
By William Gullotti
Buffalo, N.Y., Aug. 11 – Royal Bank of Canada priced $5.06 million of 9% fixed-coupon barrier notes due May 22, 2023 tied to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the stock finishes below its 50% barrier price, in which case investors will be fully exposed to decline.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Fixed-coupon barrier notes
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Underlying stock: | Tesla, Inc.
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Amount: | $5,063,000
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Maturity: | May 22, 2023
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Coupon: | 9% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par unless stock finishes below barrier level, in which case investors will be fully exposed to decline
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Initial price: | $576.83
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Barrier level: | $288.42; 50% of initial levels
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Pricing date: | May 17
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Settlement date: | May 20
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.25%
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Cusip: | 78016EG84
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