By Marisa Wong
Morgantown, W.Va., Feb. 6 – Royal Bank of Canada priced $12.5 million of 0% Performance Leveraged Upside Securities due Aug. 3, 2018 linked to the Financial Select Sector SPDR fund, according to a 424B2 with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any fund gain, up to a maximum payout of $12.01 per PLUS.
Investors will be fully exposed to any fund decline.
RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Royal Bank of Canada
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| Issue: | Performance Leveraged Upside Securities
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| Underlying fund: | Financial Select Sector SPDR fund
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| Amount: | $12.5 million
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| Maturity: | Aug. 3, 2018
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus triple any fund gain, capped at 20.1%; full exposure to losses
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| Initial price: | $23.31
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
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| Agent: | RBC Capital Markets, LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 2.5%
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| Cusip: | 78014E331
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