Published on 8/25/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $8.77 million notes on basket of 30 Raymond James stock picks
By Marisa Wong
Los Angeles, Aug. 25 – Royal Bank of Canada priced $8.77 million of 0% notes due Feb. 24, 2023 linked to Raymond James securities selections, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to an equally weighted basket of 30 common stocks selected by Raymond James & Associates, Inc.
The reference shares are Analog Devices, Inc., Advanced Micro Devices, Inc., Aptiv plc, Activision Blizzard, Inc., Avnet, Inc., Axon Enterprise, Inc., CarGurus, Inc., Cognex Corp., salesforce.com, inc., Cisco Systems, Inc., Everi Holdings Inc., Facebook, Inc., Frontdoor, Inc., Global Payments Inc., HubSpot, Inc., Jabil Inc., Jack Henry & Associates, Inc., Micron Technology, Inc., Nvidia Corp., ON Semiconductor Corp., Palo Alto Networks, Inc., Ping Identity Holding Corp., Pure Storage, Inc., PayPal Holdings, Inc., Qualcomm Inc., Synnex Corp., Skyworks Solutions, Inc., United States Cellular Corp., Verizon Communications Inc., ZoomInfo Technologies Inc.
The final share price for each stock is the sum of its closing price on the valuation date and its dividend amount.
The payout at maturity will be par times 97.35% of the basket level percentage. Because of the 97.35% participation rate, investors will receive less than par if the basket does not gain by at least 2.73%.
RBC Capital Markets, LLC is the agent. Raymond James will handle distribution.
| Issuer: | Royal Bank of Canada
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| Issue: | Notes
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| Underlying basket: | Analog Devices, Inc. (Symbol: ADI), Advanced Micro Devices, Inc. (Symbol: AMD), Aptiv plc (Symbol: APTV), Activision Blizzard, Inc. (Symbol: ATVI), Avnet, Inc. (Symbol: AVT), Axon Enterprise, Inc. (Symbol: AXON), CarGurus, Inc. (Symbol: CARG), Cognex Corp. (Symbol: CGNX), salesforce.com, inc. (Symbol: CRM), Cisco Systems, Inc. (Symbol: CSCO), Everi Holdings Inc. (Symbol: EVRI), Facebook, Inc. (Symbol: FB), Frontdoor, Inc. (Symbol: FTDR), Global Payments Inc. (Symbol: GPN), HubSpot, Inc. (Symbol: HUBS), Jabil Inc. (Symbol: JBL), Jack Henry & Associates, Inc. (Symbol: JKHY), Micron Technology, Inc. (Symbol: MU), Nvidia Corp. (Symbol: NVDA), ON Semiconductor Corp. (Symbol: ON), Palo Alto Networks, Inc. (Symbol: PANW), Ping Identity Holding Corp. (Symbol: PING), Pure Storage, Inc. (Symbol: PSTG), PayPal Holdings, Inc. (Symbol: PYPL), Qualcomm Inc. (Symbol: QCOM), Synnex Corp. (Symbol: SNX), Skyworks Solutions, Inc. (Symbol: SWKS), United States Cellular Corp. (Symbol: USM), Verizon Communications Inc. (Symbol: VZ), ZoomInfo Technologies Inc. (Symbol: ZI); equally weighted
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| Amount: | $8,767,000
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| Maturity: | Feb. 24, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par times 97.35% of the basket level percentage; investors will receive less than par if the basket does not gain by at least 2.73%
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| Initial share prices: | $166.64 for Analog, $104.65 for AMD, $154.65 for Aptiv, $82.63 for Activision, $39.58 for Avnet, $186.83 for Axon, $26.82 for CarGurus, $84.98 for Cognex, $256.13 for salesforce, $58.22 for Cisco, $21.96 for Everi, $359.37 for Facebook, $41.54 for Frontdoor, $163.06 for Global, $663.66 for HubSpot, $59.58 for Jabil, $177.13 for Jack Henry, $70.23 for Micron, $208.16 for Nvidia, $41.50 for ON, $367.46 for Palo Alto, $23.70 for Ping, $19.61 for Pure Storage, $272.96 for PayPal, $142.09 for Qualcomm, $125.19 for Synnex, $178.88 for Skyworks, $31.51 for U.S. Cellular, $55.52 for Verizon, $61.08 for ZoomInfo
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| Final price: | For each stock, sum of closing price on Feb. 21, 2023 and its dividend amount
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| Pricing date: | Aug. 20
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| Settlement date: | Aug. 25
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| Agent: | RBC Capital Markets, LLC with distribution through Raymond James
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| Fees: | 1.5%, including up to 1.5% for selling concessions; up to 0.55% structuring fee
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| Cusip: | 78013GV85
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