Published on 8/25/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $4.59 million notes on basket of 30 Raymond James stock picks
By Marisa Wong
Los Angeles, Aug. 25 – Royal Bank of Canada priced $4.59 million of 0% notes due June 29, 2022 linked to Raymond James securities selections, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to an equally weighted basket of 30 common stocks selected by Raymond James & Associates, Inc.
The reference shares are American Homes 4 Rent, Argo Group International Holdings, Ltd., Avnet, Inc., Chubb Ltd., Comerica Inc., Casella Waste Systems, Inc., Devon Energy Corp., Eagle Materials Inc., Facebook, Inc., Freeport-McMoRan Inc., First Horizon Corp., Alphabet Inc., W.W. Grainger, Inc., Invitation Homes Inc., KB Home, Lennar Corp., M.D.C. Holdings, Inc., Mohawk Industries, Inc., Marathon Oil Corp., Newmont Corp., Old Republic International Corp., PotlatchDeltic Corp., PulteGroup, Inc., Pioneer Natural Resources Co., Royal Gold, Inc., Construction Partners, Inc., Signature Bank, Webster Financial Corp., Wesco International, Inc. and Wintrust Financial Corp.
The final share price for each stock is the sum of its closing price on the valuation date and its dividend amount.
The payout at maturity will be par times 99.05% of the basket level percentage. Because of the 99.05% participation rate, investors will receive less than par if the basket does not gain by at least 0.96%.
RBC Capital Markets, LLC is the agent. Raymond James will handle distribution.
| Issuer: | Royal Bank of Canada
|
| Issue: | Notes
|
| Underlying basket: | American Homes 4 Rent (Symbol: AM), Argo Group International Holdings, Ltd. (Symbol: ARGO), Avnet, Inc. (Symbol: AVT), Chubb Ltd. (Symbol: CB), Comerica Inc. (Symbol: CMA), Casella Waste Systems, Inc. (Symbol: CWST), Devon Energy Corp. (Symbol: DVN), Eagle Materials Inc. (Symbol: EXP), Facebook, Inc. (Symbol: FB), Freeport-McMoRan Inc. (Symbol: FCX), First Horizon Corp. (Symbol: FHN), Alphabet Inc. (Symbol: GOOG), W.W. Grainger, Inc. (Symbol: GWW), Invitation Homes Inc. (Symbol: INVH), KB Home (Symbol: KBH), Lennar Corp. (Symbol: LEN), M.D.C. Holdings, Inc. (Symbol: MDC), Mohawk Industries, Inc. (Symbol: MHK), Marathon Oil Corp. (Symbol: MRO), Newmont Corp. (Symbol: NEM), Old Republic International Corp. (Symbol: ORI), PotlatchDeltic Corp. (Symbol: PCH), PulteGroup, Inc. (Symbol: PHM), Pioneer Natural Resources Co. (Symbol: PXD), Royal Gold, Inc. (Symbol: RGLD), Construction Partners, Inc. (Symbol: ROAD), Signature Bank (Symbol: SBNY), Webster Financial Corp. (Symbol: WBS), Wesco International, Inc. (Symbol: WCC) and Wintrust Financial Corp. (Symbol: WTFC); equally weighted
|
| Amount: | $4,591,000
|
| Maturity: | June 29, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par times 99.05% of the basket level percentage; investors will receive less than par if the basket does not gain by at least 0.96%
|
| Initial share prices: | $38.45 for American Homes, $52.05 for Argo, $38.85 for Avnet, $156.01 for Chubb, $68.11 for Comerica, $62.93 for Casella, $26.75 for Devon, $136.05 for Eagle, $329.66 for Facebook, $34.96 for Freeport-McMoRan, $16.74 for First Horizon, $2,511.35 for Alphabet, $436.53 for Grainger, $36.51 for Invitation Homes, $42.48 for KB Home, $98.17 for Lennar, $52.20 for MDC, $180.66 for Mohawk, $62.62 for Newmont, $24.48 for Old Republic, $51.58 for PotlatchDeltic, $53.67 for PulteGroup, $154.84 for Pioneer, $109.31 for Royal Gold, $29.06 for Construction Partners, $234.50 for Signature Bank, $52.00 for Webster, $98.76 for Wesco, $74.35 for Wintrust
|
| Final price: | For each stock, sum of closing price on June 24, 2022 and its dividend amount
|
| Pricing date: | June 18
|
| Settlement date: | June 23
|
| Agent: | RBC Capital Markets, LLC with distribution through Raymond James
|
| Fees: | None; up to 0.55% structuring fee
|
| Cusip: | 78013GQ65
|
© 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.
