By Kiku Steinfeld
Chicago, Jan. 17 – Royal Bank of Canada priced $1.2 million of 7.5% autocallable fixed-coupon barrier notes due Dec. 20, 2024 linked to the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date after one year.
The payout will be par unless the stock has finished below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the stock, payable in shares or cash at the issuer’s option.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable fixed-coupon barrier notes
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| Underlying stocks: | Nvidia Corp.
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| Amount: | $1.2 million
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| Maturity: | Dec. 20, 2024
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| Coupon: | 7.5%, payable monthly
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| Price: | Par of $10,000
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| Payout at maturity: | Par unless stock has finished below barrier level, in which case investors will lose 1% for each 1% decline of stock, payable in 35.97 shares or cash at the issuer’s option
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| Call: | At par if stock closes at or above initial level on any quarterly observation date after one year
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| Initial stock level: | $278.01
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| Barrier level: | $166.81; 60% of initial level
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| Pricing date: | Dec. 17
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| Settlement date: | Dec. 22
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2%
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| Cusip: | 78013G3J2
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