Published on 7/23/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.23 million capped trigger gears on basket of ten stocks
By William Gullotti
Buffalo, N.Y., July 23 – Royal Bank of Canada priced $1.23 million of capped trigger gears due July 20, 2023 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Popular, Inc., Citigroup Inc., Devon Energy Corp., DexCom, Inc., FedEx Corp., General Electric Co., Generac Holdings, Inc., L Brands, Inc., United Airlines Holdings, Inc. and Uber Technologies, Inc.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus double the basket return subject to a maximum return of par plus 38%.
Investors will receive par if the basket declines by 20% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 20%.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Capped trigger gears
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| Underlying stocks: | Popular, Inc., Citigroup Inc., Devon Energy Corp., DexCom, Inc., FedEx Corp., General Electric Co., Generac Holdings, Inc., L Brands, Inc., United Airlines Holdings, Inc., Uber Technologies, Inc.; equally weighted
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| Amount: | $1,233,870
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| Maturity: | July 20, 2023
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| Coupon: | 0%
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| Price: | Par of $10
|
| Payout at maturity: | Par plus two times any basket gain, capped at par plus 38%; par if basket declines by 20% or less; full exposure to basket’s decline from its initial level if it declines by more than 20%
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| Initial level: | $73.30 for Popular, Inc., $68.45 for Citigroup Inc., $26.65 for Devon Energy Corp., $441.42 for DexCom, Inc., $296.08 for FedEx Corp., $12.76 for General Electric Co., $432.86 for Generac Holdings, Inc., $74.21 for L Brands, Inc., $47.71 for United Airlines Holdings, Inc., $46.42 for Uber Technologies, Inc.
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| Downside threshold: | 80% of initial level
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| Pricing date: | July 15
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| Settlement date: | July 20
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | None
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| Cusip: | 78014U350
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