By Wendy Van Sickle
Columbus, Ohio, April 23 – Royal Bank of Canada priced $5 million of trigger autocallable contingent yield notes due April 22, 2027 linked to the performance of the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 6.6% per year if the index closes at or above its coupon barrier, 60% of its initial level, on the related observation date.
The notes will be automatically called at par plus the coupon if the index closes at or above its initial level on any quarterly call observation date after one year.
If the notes are not called and the final level of the index is greater than or equal to its downside threshold level, 60% of initial level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the index declines from its initial level.
UBS Financial Services LLC 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 fund: | Euro Stoxx 50 index
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Amount: | $5 million
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Maturity: | April 22, 2027
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Coupon: | 6.6% per year, paid quarterly if the index closes at or above its coupon barrier on the related observation date
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Price: | Par of $10
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Payout at maturity: | Par plus final coupon unless index finishes below downside threshold level, in which case 1% loss for each 1% decline of the index from initial level
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Call: | Automatically at par plus the coupon if the index closes at or above initial level on any quarterly call observation date after one year
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Initial level: | 4,914.13
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Coupon barrier: | 2,948.48; 60% of initial level
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Downside threshold: | 2,948.48; 60% of initial level
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Pricing date: | April 17
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Settlement date: | April 22
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Agents: | UBS Financial Services LLC and RBC Capital Markets, LLC
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Fees: | 1.25%
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Cusip: | 78016R769
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