Published on 1/15/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $6.33 million autocallable barrier notes linked to FTSE index, EM ETF
Chicago, Jan. 15 – Royal Bank of Canada priced $6.33 million of 0% autocallable barrier notes due Dec. 30, 2024 linked to the lesser performing of the iShares MSCI Emerging Markets exchange-traded fund and the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 10% per year if each underlier closes at or above its initial level on any quarterly observation date starting on June 24, 2020 and then a revised call level of 95% after March 2021.
If not called, the payout will be par unless any underlier has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the lesser performing underlier from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable barrier notes
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| Underliers: | iShares MSCI Emerging Markets exchange-traded fund and the FTSE 100 index
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| Amount: | $6,331,000
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| Maturity: | Dec. 30, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If not called, par unless either underlier finishes below barrier level, in which case 1% loss for every 1% decline of lesser-performing underlier from initial level
|
| Call: | Automatically at par plus call premium of 10% per year if each underlier closes at or above initial level on any annual observation date starting June 24, 2020 and then a revised call level of 95% after March 2021
|
| Initial levels: | $44.57 for EM ETF, 7,632.24 for FTSE
|
| Barrier levels: | $31.20 for EM ETF, 5,342.57 for FTSE, or 70% of initial levels
|
| Pricing date: | Dec. 24
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| Settlement date: | Dec. 30
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| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.75%
|
| Cusip: | 78015KJS4
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