By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – Royal Bank of Canada priced $38.15 million of 0% Accelerated Return Notes due Sept. 27, 2019 linked to a basket of three financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley.
The payout at maturity will be par of $10 plus 300% of any basket gain, up to a maximum return of 19.65%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Accelerated Return Notes
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| Underlying stocks: | Citigroup Inc. (33.33% weight), JPMorgan Chase & Co. (33.33% weight) and Morgan Stanley (33.34% weight)
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| Amount: | $38,150,460
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| Maturity: | Sept. 27, 2019
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 300% of any basket gain, capped at 19.65%; exposure to any basket decline
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| Initial share prices: | $71.34 for Citigroup, $114.85 for JPMorgan and $50.99 for Morgan Stanley
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| Pricing date: | July 26
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| Settlement date: | Aug. 2
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| Agent: | BofA Merrill Lynch
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| Fees: | 2%
|
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| Cusip: | 78014F692
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