Published on 10/19/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.04 million Accelerated Return Notes tied to energy stocks
By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – Royal Bank of Canada priced $4.04 million of 0% Accelerated Return Notes due Dec. 22, 2017 linked to a basket of five equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are ConocoPhillips, Devon Energy Corp., Marathon Oil Corp., Occidental Petroleum Corp. and Range Resources Corp.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 32%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Accelerated Return Notes
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| Underlying stocks: | ConocoPhillips, Devon Energy Corp., Marathon Oil Corp., Occidental Petroleum Corp. and Range Resources Corp., equal weights
|
| Amount: | $4,036,600
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| Maturity: | Dec. 22, 2017
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| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus 300% of any basket gain, capped at 32%; exposure to any basket decline
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| Initial share prices: | $41.10 for ConocoPhillips, $41.77 for Devon Energy Corp., $14.18 for Marathon Oil Corp., $72.47 for Occidental Petroleum Corp. and $37.75 for Range Resources Corp.
|
| Pricing date: | Oct. 17
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| Settlement date: | Oct. 24
|
| Underwriters: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 78014F304
|
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