Published on 10/26/2018 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1 million 6.75% contingent yield trigger autocalls on S&P, Stoxx
By Susanna Moon
Chicago, Oct. 26 – Royal Bank of Canada priced $1 million of trigger autocallable contingent yield notes due Oct. 15, 2020 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 6.75% if each underlying index closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 index and Euro Stoxx 50 index
|
| Amount: | $1 million
|
| Maturity: | Oct. 15, 2020
|
| Coupon: | 6.75% annualized, payable quarterly if each index closes at or above its 60% coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worst performing index
|
| Call: | At par if index closes at or above initial level on each quarterly observation date after six months
|
| Initial levels: | 2,767.13 for S&P and 3,194.41 for Stoxx
|
| Trigger levels: | 1,660.28 for S&P and 1,916.65 for Stoxx, 60% of initial levels
|
| Pricing date: | Oct. 12
|
| Settlement date: | Oct. 17
|
| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | None
|
| Cusip: | 78014G666
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
