By Wendy Van Sickle
Columbus, Ohio, Dec. 15 – Royal Bank of Canada priced $1.69 million of 0% dual directional trigger Performance Leveraged Upside Securities due Jan. 3, 2019 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 150% of the stock return, subject to a maximum payout of $12.675 per PLUS.
If the final share price is less than or equal to the initial share price but greater than or equal to the trigger share price, 80% of the initial level, the payout will be par plus the absolute value of the stock return.
If the final share price is less than the trigger share price, investors will lose 1% for each 1% decline.
RBC Capital Markets, LLC is the agent. Morgan Stanley Wealth Management is a distributor.
| Issuer: | Royal Bank of Canada
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| Issue: | Dual directional trigger Performance Leveraged Upside Securities
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| Underlying stock: | Facebook Inc. (Symbol: FB)
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| Amount: | $1,685,000
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| Maturity: | Jan. 3, 2019
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If final share price is greater than initial share price, par plus 150% of stock return, subject to 26.75% cap; if final share price is less than or equal to initial share price but greater than or equal to trigger price, par plus absolute value of stock return; if final share price is less than trigger price, exposure to decline from initial share price
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| Initial share price: | $120.21
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| Trigger level: | $96.17, 80% of initial share price
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| Pricing date: | Dec. 14
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| Settlement date: | Dec. 19
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| Agent: | RBC Capital Markets, LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 78014C871
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