Published on 4/20/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.56 million market-linked autocallables on Euro Stoxx 50
By Marisa Wong
Morgantown, W.Va., April 20 – Royal Bank of Canada priced $1.56 million of 0% market-linked securities – autocallable with fixed percentage buffered downside due April 5, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 8.8% if the index closes at or above its initial level on any of three annual observation dates.
The payout at maturity will be par unless the index falls by more than 10%, in which case investors will be exposed to any losses beyond 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Market linked securities – autocallable with fixed percentage buffered downside
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Underlying index: | Euro Stoxx 50 index
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Amount: | $1,555,000
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Maturity: | April 5, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 10%, in which case exposure to any losses beyond 10%
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Call: | At par plus an annual call premium of 8.8% if index closes at or above its initial level on any of three annual observation dates
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Initial index level: | 3,361.50
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Buffer level: | 3,025.35, 90% of initial level
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Pricing date: | March 29
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Settlement date: | April 4
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.85%
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Cusip: | 78013XGP7
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