Published on 1/23/2018 in the Prospect News Structured Products Daily.
New Issue: RBC prices $140,000 callable contingent coupon barrier notes linked to Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Jan. 23 – Royal Bank of Canada priced $140,000of issuer callable contingent coupon barrier notes due July 24, 2023 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 7% per year if each index closes at or above its trigger level, 65% of its initial level, on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless the lesser-performing index finishes below its trigger level, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Issuer callable contingent coupon barrier notes
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Underlying indexes: | Euro Stoxx 50 and Russell 2000
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Amount: | $140,000
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Maturity: | July 24, 2023
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Coupon: | 7% per year, payable quarterly if each index closes at or above trigger level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless lesser-performing index finishes below trigger level, in which 1% loss for every 1% that lesser-performing index declines from initial level
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Call option: | Callable at par on any interest payment date
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Initial index levels: | 3,649.07 for Stoxx and 1,597.628 for Russell 2000
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Trigger levels: | 2,371.90 for Stoxx and 1,038.458 for Russell 2000; 65% of initial levels
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Pricing date: | Jan. 19
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Settlement date: | Jan. 24
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 2.25%
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Cusip: | 78013XDA3
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