By Sarah Lizee
Olympia, Wash., Feb. 25 – Royal Bank of Canada priced $2.7 million of issuer callable contingent coupon barrier notes due Feb. 25, 2022 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 7.05% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes are callable at par on any interest payment date beginning Aug. 22.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Callable contingent coupon barrier notes
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Underlying indexes: | Nasdaq-100 and Russell 2000
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Amount: | $2.7 million
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Maturity: | Feb. 25, 2022
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Coupon: | 7.05% per year, payable each quarter if each index closes at or above coupon barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below trigger level, in which 1% loss for every 1% that lesser-performing index declines from initial level
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Call option: | Callable at par on any interest payment date beginning Aug. 22
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Initial index levels: | 7,090.625 for Nasdaq-100 and 1,590.062 for Russell 2000
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Coupon barrier/triggers: | 4,963.438 for Nasdaq-100 and 1,113.043 for Russell 2000; 70% of initial levels
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Pricing date: | Feb. 22
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Settlement date: | Feb. 27
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 2.25%
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Cusip: | 78013X2G2
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