Published on 4/29/2015 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.79 million trigger return notes linked to Russell 2000
By Susanna Moon
Chicago, April 29 – Royal Bank of Canada priced $4.79 million of 0% trigger return optimization securities due April 30, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any gain in the index, up to a maximum return of 36.4%.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% trigger level.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Trigger return optimization securities
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Underlying index: | Russell 2000 index
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Amount: | $4,792,190
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Maturity: | April 30, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, capped at 36.4%; par if index declines by up to 25%; full exposure to any losses if index falls below trigger level
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Initial level: | 1,252.70
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Trigger level: | 939.525, 75% of initial level
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Pricing date: | April 27
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Settlement date: | April 30
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Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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Fees: | 2%
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Cusip: | 780082756
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