Published on 12/28/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $8.21 million PLUS linked to Russell 2000
By Kiku Steinfeld
Chicago, Dec. 30 – Royal Bank of Canada priced $8.21 million of 0% Performance Leveraged Upside Securities due March 3, 2022 linked to the Russell 2000 index, according to a 424B2 with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus triple the index return, subject to a maximum return of 16.15%. If the index return is negative, investors will be exposed to the decline.
RBC Capital Markets, LLC is the agent. Distribution is through Morgan Stanley Wealth Management
Issuer: | Royal Bank of Canada
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Issue: | Performance Leveraged Upside Securities
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Underlying index: | Russell 2000
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Amount: | $8,205,520
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Maturity: | March 3, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 300% of index return, subject to 16.15% maximum return; if index return is negative, exposure to decline
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Initial index level: | 1,819.816
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Pricing date: | Nov. 30
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Settlement date: | Dec. 3
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Agent: | RBC Capital Markets, LLC
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 2.25%
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Cusip: | 78014M366
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