Published on 1/27/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.1 million PLUS due 2018 with cap linked to indexes, fund
By Susanna Moon
Chicago, Jan. 27 – Royal Bank of Canada priced $4.1 million of 0% Performance Leveraged Upside Securities due March 2, 2018 linked to a basket of indexes and exchange traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 50% weight, the Russell 2000 index with a 20% weight, the Euro Stoxx 50 index with a 15% weight and the WisdomTree Japan Hedged Equity fund with a 15% weight.
The payout will be par of $10.00 triple any basket gain, up to a maximum return of $11.275 per PLUS.
Investors will be exposed to any losses.
RBC Capital Markets LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
Issuer: | Royal Bank of Canada
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Issue: | Performance Leveraged Upside Securities
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Basket components: | S&P 500 index (50% weight), Russell 2000 index (20% weight), Euro Stoxx 50 index (15% weight) and WisdomTree Japan Hedged Equity fund (15% weight)
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Amount: | $4,095,100
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Maturity: | March 2, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any basket gain, capped at 12.75%; exposure to any losses
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Initial levels: | 2,280.07 for S&P, 1,369.210 for Russell, 3,281.53 for Stoxx and $50.28 for WisdomTree
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Pricing date: | Jan. 24
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Settlement date: | Jan. 27
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 1.75%
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Cusip: | 78014E273
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