By Susanna Moon
Chicago, July 31 – Royal Bank of Canada priced $2.94 million of trigger autocallable contingent yield notes due July 30, 2020 linked to Netflix Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 12.75% if the stock closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its 65% downside threshold, in which case investors will lose 1% for each 1% decline.
UBS Financial Services Inc. 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: | Netflix Inc. (Symbol: NFLX)
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| Amount: | $2,941,000
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| Maturity: | July 30, 2020
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| Coupon: | 12.75% annualized, payable quarterly if stock closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above trigger level, par; otherwise, 1% loss per 1% decline
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| Call: | At par if stock closes at or above its initial level on each quarterly observation date
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| Initial level: | $363.09
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| Trigger level: | $236.01, 65% of initial level
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 1.75%
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| Cusip: | 78013GGR0
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