Published on 1/10/2018 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3 million digital plus barrier notes linked to Facebook
By Susanna Moon
Chicago, Jan. 10 – Royal Bank of Canada priced $3 million of 0% digital plus barrier notes due July 9, 2019 linked to Facebook, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes above the 80% barrier, the payout at maturity will be the greater of $1,100 per $1,000 principal amount and any gain up to a maximum redemption amount of 117.08% of par.
Otherwise, the payout will be a number of Microsoft shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Digital plus barrier notes
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Underlying stock: | Facebook, Inc. (Symbol: FB)
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Amount: | $3 million
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Maturity: | July 9, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If stock finishes above 80% barrier, par plus any gain, floor of 10% and capped at 17.08%; otherwise, 5.4151 Microsoft shares
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Initial share price: | $184.67
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Barrier level: | $147.74, 80% of initial share price
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Pricing date: | Jan. 3
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Settlement date: | Jan. 8
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 1%
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Cusip: | 78013GLN3
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