Published on 12/6/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $7.89 million PLUS linked to Financial Select Sector SPDR
By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – Royal Bank of Canada priced $7.89 million of 0% Performance Leveraged Upside Securities due Jan. 5, 2021 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par of $10 plus 300% of the fund return, subject to a maximum return of 16%. If the fund return is negative, investors will be exposed to the decline.
RBC Capital Markets, LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | Royal Bank of Canada
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Issue: | Performance Leveraged Upside Securities
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Underlying fund: | Financial Select Sector SPDR
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Amount: | $7,893,720
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Maturity: | Jan. 5, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If fund return is positive, par plus 300% of fund return, subject to 16% maximum return; if fund return is negative, exposure to decline
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Initial level: | $30.15
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Pricing date: | Nov. 29
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Settlement date: | Dec. 4
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Agent: | RBC Capital Markets, LLC
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 2.25%
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Cusip: | 78014J751
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