Published on 9/29/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $6 million trigger step notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Sept. 29 – Royal Bank of Canada priced $6 million of 0% trigger step securities due Sept. 30, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of 47.25% and the index return. Investors will receive par if the index declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines beyond 25%.
UBS Financial Services Inc. and RBC Capital Markets LLC are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Trigger step securities
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Underlying index: | Euro Stoxx 50
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Amount: | $6,004,100
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Maturity: | Sept. 30, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is zero or positive, par plus greater of 47.25% and index return; par if index declines by 25% or less; full exposure to decline from initial level if index declines beyond 25%
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Initial level: | 3,555.17
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Downside threshold: | 2,666.38, 75% of initial level
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Pricing date: | Sept. 27
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Settlement date: | Sept. 29
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Agents: | UBS Financial Services Inc. and RBC Capital Markets LLC
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Fees: | 3%
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Cusip: | 78013F313
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