Published on 8/26/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $495,000 notes linked to Raymond James securities selections
By Sarah Lizee
Olympia, Wash., Aug. 26 – Royal Bank of Canada priced $495,000 of 0% notes linked to Raymond James securities selections due Feb. 25, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to an equally-weighted basket of 25 common stocks selected by Raymond James & Associates, Inc.
The reference shares are Aaron’s, Inc., Best Buy Co., Inc., Change Healthcare Inc., Cigna Corp., Ciena Corp., Dollar General Corp., Darden Restaurants, Inc., NIC Inc., GMS Inc., Hanesbrands Inc., HD Supply Holdings, Inc., Hill-Rom Holdings, Inc., Jabil Inc., Jack Henry & Associates, Inc., Microchip Technology Inc., Maximus, Inc., Motorola Solutions, Inc., Micron Technology, Inc., Paccar Inc., PulteGroup Inc., Polaris Inc., RingCentral, Inc., Roper Technologies, Inc., Republic Services, Inc. and Texas Roadhouse, Inc.
The payout at maturity will be par of $1,000 times 98.85% times the basket level percentage. Because of the participation rate, investors will receive less than par if the basket does not gain by at least 1.17%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Notes linked to Raymond James securities selections
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| Underlying stocks: | Aaron’s, Inc., Best Buy Co., Inc., Change Healthcare Inc., Cigna Corp., Ciena Corp., Dollar General Corp., Darden Restaurants, Inc., NIC Inc., GMS Inc., Hanesbrands Inc., HD Supply Holdings, Inc., Hill-Rom Holdings, Inc., Jabil Inc., Jack Henry & Associates, Inc., Microchip Technology Inc., Maximus, Inc., Motorola Solutions, Inc., Micron Technology, Inc., Paccar Inc., PulteGroup Inc., Polaris Inc., RingCentral, Inc., Roper Technologies, Inc., Republic Services, Inc. and Texas Roadhouse, Inc.; equally weighted
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| Amount: | $495,000
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| Maturity: | Feb. 25, 2022
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | Par times 98.85% times the basket level percentage; because of participation rate, investors will receive less than par if the basket does not gain by at least 1.17%
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| Initial share prices: | $56.72 for Aaron’s, $114.00 for Best Buy, $12.92 for Change, $178.30 for Cigna, $59.86 for Ciena, $198.93 for Dollar, $82.71 for Darden, $22.21 for NIC, $25.84 for GMS, $15.68 for Hanesbrands, $40.78 for HD, $95.24 for Hill-Rom, $34.22 for Jabil, $165.85 for Jack, $107.93 for Microchip, $77.19 for Maximus, $151.92 for Motorola, $42.66 for Micron, $87.02 for Paccar, $47.48 for Pulte, $100.83 for Polaris, $291.57 for Ring, $431.99 for Roper, $89.81 for Republic, $61.56 for Texas
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| Pricing date: | Aug. 21
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| Settlement date: | Aug. 26
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| Agents: | RBC Capital Markets, LLC
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| Fees: | None
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| Cusip: | 78013GWY7
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