Published on 5/22/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $5.18 million autocallable barrier notes linked to Russell
By Sarah Lizee
Olympia, Wash., May 22 – Royal Bank of Canada priced $5.18 million of 0% autocallable barrier notes due May 22, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 13% per year if the index closes at or above its initial level on any quarterly observation date.
The payout will be par unless the index finishes below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the index from its initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
|
Issue: | Autocallable barrier notes
|
Underlying index: | Russell 2000 index
|
Amount: | $5,175,000
|
Maturity: | May 22, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par unless index finishes below barrier level, in which case full exposure to losses
|
Call: | Automatically at par plus call premium of 13% per year if index closes at or above initial level on any quarterly observation date
|
Initial level: | 1,307.719
|
Barrier level: | 850.017, or 65% of initial level
|
Pricing date: | May 19
|
Settlement date: | May 22
|
Agent: | RBC Capital Markets, LLC
|
Fees: | 2.75%
|
Cusip: | 78015KUS1
|
|
© 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.