New Issue: RBC sells $1.59 million 22.75% fixed coupon barrier notes tied to Tesla, Amazon

By William Gullotti

Buffalo, N.Y., Dec. 22 – Royal Bank of Canada priced $1.59 million of 22.75% fixed coupon barrier notes due Dec. 23, 2024 tied to the stock performance of Amazon.com, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the laggard stock finishes below its 90% barrier level, in which case investors will receive a number of shares of that stock equal to $1,000 divided by the stock’s initial price or, at the issuer’s option, the cash equivalent.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Fixed coupon barrier notes
Underlying stocks:	Amazon.com, Inc., Tesla, Inc.
Amount:	$1.59 million
Maturity:	Dec. 23, 2024
Coupon:	22.75% per year, payable monthly
Price:	Par
Payout at maturity:	Par if each stock finishes at or above barrier level; otherwise, receive a number of shares of the laggard stock equal to $1,000 divided by that stock’s initial price or, at the issuer’s option, the cash equivalent
Initial prices:	$154.07 for Amazon, $252.08 for Tesla
Barrier levels:	$138.66 for Amazon, $226.87 for Tesla; 90% of initial levels
Pricing date:	Dec. 18
Settlement date:	Dec. 21
Agent:	RBC Capital Markets, LLC
Fees:	1.25%
Cusip:	78015QGQ8

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