By William Gullotti
Buffalo, N.Y., May 12 – Royal Bank of Canada priced $7.34 million of 0% trigger jump securities due May 5, 2025 linked to the performance of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above its initial level, the payout at maturity will be par plus the upside payment of 34.5%.
If the stock falls by up to 10%, the payout will be par.
If the stock finishes below its 90% downside threshold, investors will lose 1% for each 1% decline of the stock from its initial level.
RBC Capital Markets, LLC is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Royal Bank of Canada
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| Issue: | Trigger jump securities
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| Underlying stock: | Apple Inc.
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| Amount: | $7,344,000
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| Maturity: | May 5, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the stock finishes flat or gains, par plus 34.5%; if the stock falls by up to 10%, par; otherwise, full exposure to decline from initial level
|
| Initial level: | $169.68
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| Trigger level: | $152.71; 90% of initial level
|
| Pricing date: | April 28
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| Settlement date: | May 3
|
| Agent: | RBC Capital Markets, LLC with Morgan Stanley Wealth Management as a dealer
|
| Fees: | 2.5%
|
| Cusip: | 78016HYH7
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