Published on 2/27/2015 in the Prospect News Structured Products Daily.
New Issue: RBC prices $13.59 million trigger return optimization notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Feb. 27 – Royal Bank of Canada priced $13.59 million of 0% trigger return optimization securities due Feb. 28, 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus two times the index return, up to a maximum return of 49.46%. If the index return is negative or zero and the index finishes at or above the trigger level, 75% of the initial index level, the payout will be par. If the index finishes below the trigger level, investors will be fully exposed to the decline.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Trigger return optimization securities
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Underlying index: | Euro Stoxx 50
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Amount: | $13,594,000
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Maturity: | Feb. 28, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, capped at 49.46%; par if index falls by up to 25%; full exposure to any losses if index finishes below trigger level
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Initial index level: | 3,541.78
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Trigger level: | 2,656.34, 75% of initial price
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Pricing date: | Feb. 25
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Settlement date: | Feb. 27
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Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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Fees: | 2.5%
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Cusip: | 780082400
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