By Wendy Van Sickle
Columbus, Ohio, Jan. 8 – Royal Bank of Canada priced $3 million of issuer callable contingent coupon barrier notes due Jan. 9, 2020 linked to Microsoft Corp. 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 8.95% if the stock closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes may be called at par on any coupon payment date.
The payout at maturity will be par unless the stock finishes below the 80% trigger level, in which case investors will receive a number shares equal to $1,000 divided by the initial share price.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
|
Issue: | Issuer callable contingent coupon barrier notes
|
Underlying stock: | Microsoft Corp.
|
Amount: | $3 million
|
Maturity: | Jan. 9, 2020
|
Coupon: | 8.95%, payable quarterly if stock closes at or above 80% coupon barrier on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless stock finishes below trigger level, in which case shares of stock equal to $1,000 divided by the initial share price
|
Call option: | At par on any coupon payment date
|
Initial level: | $87.11
|
Trigger level: | $69.69, 80% of initial levels
|
Pricing date: | Jan. 4
|
Settlement date: | Jan. 10
|
Agents: | RBC Capital Markets, LLC
|
Fees: | 1%
|
Cusip: | 78013GFF7
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.