By Sarah Lizee
Olympia, Wash., Dec. 12 – Royal Bank of Canada priced $750,000 of issuer callable contingent coupon barrier notes due Dec. 4, 2019 linked to Caterpillar 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 8% if the stock closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be callable at par on any coupon payment date other than the final one.
The payout at maturity will be par unless the stock finishes below the 60% trigger price, in which case investors will lose 1% for each 1% decline of the stock from its initial price.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Issuer callable contingent coupon barrier notes
|
| Underlying stock: | Caterpillar Inc.
|
| Amount: | $750,000
|
| Maturity: | Dec. 4, 2019
|
| Coupon: | 8%, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below trigger level, in which case 1% loss for each 1% decline of the stock from its initial price
|
| Call: | At par on any coupon payment date other than the final one
|
| Initial price: | $135.67
|
| Coupon barrier/trigger price: | $81.40, 60% of initial level
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 5
|
| Agents: | RBC Capital Markets, LLC
|
| Fees: | 1.25%
|
| Cusip: | 78013XTF5
|
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