Published on 8/28/2014 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.16 million contingent coupon callable yield notes linked to indexes
By Susanna Moon
Chicago, Aug. 28 – Royal Bank of Canada priced $2.16 million of contingent coupon callable yield notes March 2, 2016 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each index closes at or above its barrier level, 75% of the initial level, on an observation date for that quarter.
The notes will be callable at par plus any contingent coupon on any interest payment date.
The payout at maturity will be par unless either index finishes at or below its 75% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
RBC Capital Markets, LLC and Barclays are the underwriters.
| Issuer: | Royal Bank of Canada
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
| Amount: | $2,155,000
|
| Maturity: | March 2, 2016
|
| Coupon: | 8.5% annualized, payable quarterly if each index closes at or above its barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes at or below knock-in level, in which case par plus return of worst performing index
|
| Call option: | At par plus coupon on any interest payment date
|
| Initial index levels: | 2,000.02 for S&P, 1,175.17 for Russell, 3,197.54 for Euro Stoxx
|
| Barrier levels: | 1,500.02 for S&P, 881.378 for Russell, 2,398.16 for Euro Stoxx; 75% of initial levels
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Agent: | RBC Capital Markets, LLC and Barclays
|
| Fees: | 1.5%
|
| Cusip: | 78010UR74
|
|
|
© 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.
