New Issue: RBC prices $970,000 12.1% autocallable fixed coupon barrier notes on Tesla

By Kiku Steinfeld

Chicago, March 4 – Royal Bank of Canada priced $970,000 of 12.1% autocallable fixed-coupon barrier notes due July 2, 2026 linked to the common stock of Tesla, Inc., 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 six months.

The payout will be par unless the stock has finished below its 50% 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
Issue:	Autocallable fixed-coupon barrier notes
Underlying stocks:	Tesla, Inc.
Amount:	$970,000
Maturity:	July 2, 2026
Coupon:	12.1%, payable monthly
Price:	Par of $10,000
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 39.97 shares or cash at the issuer’s option
Call:	At par if stock closes at or above initial level on any quarterly observation date after six months
Initial stock level:	$250.21
Barrier level:	$125.11; 50% of initial level
Pricing date:	June 27, 2023
Settlement date:	June 30, 2023
Agent:	RBC Capital Markets, LLC
Fees:	2%
Cusip:	78015QEZ0

© 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.