Published on 6/6/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.15 million trigger autocallable contingent yield notes on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, June 6 – Royal Bank of Canada priced $1.15 million of trigger autocallable contingent yield notes due June 1, 2020 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 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 8.35% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon, unless either index finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
Issuer: | Royal Bank of Canada
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying indexes: | Nasdaq-100 and Russell 2000
|
Amount: | $1,147,000
|
Maturity: | June 1, 2020
|
Coupon: | 8.35%, payable quarterly if each index closes at or above barrier level on observation date
|
Price: | Par of $10
|
Call: | After six months, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
Payout at maturity: | Par unless either index finishes below downside threshold level, in which case 1% loss for each 1% decline of the worse performing index
|
Initial index levels: | 5,788.359 for Nasdaq, 1,382.44 for Russell
|
Barriers/thresholds: | 4,051.851 for Nasdaq, 967.571 for Russell, 70% of initial levels
|
Pricing date: | May 26
|
Settlement date: | May 31
|
Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
Fees: | None
|
Cusip: | 78014E737
|
|
© 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.