By Sarah Lizee
Olympia, Wash., March 27 – Royal Bank of Canada priced $5.03 million of 0% step-down trigger autocallable notes due March 30, 2023 linked to the lowest performing of the iShares MSCI EAFE ETF and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 9% if each ETF closes at or above its initial level on an quarterly observation date or at or above its 70% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return with full exposure to any losses of the worse performing ETF.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Step-down trigger autocallable notes
|
| Underlying ETFs: | iShares MSCI EAFE ETF and iShares Russell 2000 ETF
|
| Amount: | $5,030,860
|
| Maturity: | March 30, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus return with full exposure to any losses of the worse performing ETF
|
| Call: | At par plus a call return of 9% per year if each ETF closes at or above its initial level on any quarterly observation date after one year or at or above its 70% downside threshold on the final valuation date
|
| Initial levels: | $64.31 for EAFE, $149.62 for Russell
|
| Downside thresholds: | $45.02 for EAFE, $104.73 for Russell; 70% of initial levels
|
| Pricing date: | March 25
|
| Settlement date: | March 28
|
| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | None
|
| Cusip: | 78014H458
|
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