New Issue: RBC sells $2.27 million trigger in-step securities linked to S&P 500

By Marisa Wong

Morgantown, W.Va., April 2 – Royal Bank of Canada priced $2.27 million of 0% capped trigger in-step securities due March 31, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the downside threshold, 80% of the initial index level, the payout at maturity will be par of $10 plus the greater of the step return of 10% and the index return, subject to a maximum return of 38%. If the final index level is less than the downside threshold, investors will have one-to-one exposure to the index’s decline from its initial level.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Trigger in-step securities
Underlying index:	S&P 500 index
Amount:	$2,273,250
Maturity:	March 31, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the final index level is greater than or equal to the downside threshold, par plus the greater of 10% and the index return, capped at 38%; otherwise, one-to-one exposure to the index’s decline from its initial level
Initial level:	2,658.55
Downside threshold:	2,126.84, 80% of initial level
Pricing date:	March 26
Settlement date:	March 29
Agents:	RBC Capital Markets, LLC and UBS Financial Services Inc.
Fees:	2.5%
Cusip:	78013Q574

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.