New Issue: RBC prices $695,000 callable contingent coupon barrier notes on Amazon

By Kiku Steinfeld

Chicago, Feb. 22 – Royal Bank of Canada priced $695,000 of issuer callable contingent coupon barrier notes due Sept. 8, 2023 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.05% if the stock closes at or above its 75% coupon barrier on the observation date for that quarter.

The notes will be callable at par of $5,000 on any quarterly observation date beginning in March 2022.

The payout at maturity will be par unless the stock finishes below the 75% trigger price, in which case investors will receive a number of shares equal to $5,000 divided by the initial share price or, at the option of the issuer, the cash equivalent of those shares.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Issuer callable contingent coupon barrier notes
Underlying stock:	Amazon.com, Inc.
Amount:	$695,000
Maturity:	Sept. 8, 2023
Coupon:	7.05%, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter
Price:	Par of $5,000
Payout at maturity:	Par unless stock finishes below trigger level, in which case 1.44 shares of stock or cash at issuer’s option
Call:	At par on any quarterly observation date beginning in March 2022
Initial level:	$3,478.05
Coupon barrier/trigger price:	$2,608.54; 75% of initial level
Pricing date:	Sept. 3
Settlement date:	Sept. 9
Agent:	RBC Capital Markets, LLC
Fees:	1.75%
Cusip:	78013GY58

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