Published on 2/17/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.14 million trigger callable contingent yield notes on three indexes
By Marisa Wong
Morgantown, W.Va., Feb. 17 – Royal Bank of Canada priced $2.14 million of trigger callable contingent yield notes due Feb. 16, 2018 with daily coupon observation linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 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 19.8% if each index closes at or above its barrier level, 75% of its initial level, on each day during the quarterly observation period.
The notes will be callable at par on any coupon payment date.
The payout at maturity will be par unless any index finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Trigger callable contingent yield notes with daily coupon observation
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $2,135,000
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| Maturity: | Feb. 15, 2018
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| Coupon: | 19.8% per year, payable quarterly if each index closes at or above its barrier level each day for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger level, in which case full exposed to any losses of worst performing index
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| Call option: | At par quarterly
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| Initial levels: | 1,864.78 for S&P, 2,756.16 for Euro Stoxx, 971.990 for Russell
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| Barrier/trigger levels: | 1,398.59 for S&P, 2,067.12 for Euro Stoxx, 728.993 for Russell; 75% of initial levels
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 18
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 1.5%
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| Cusip: | 78013C682
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