Published on 2/20/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $13.64 million trigger autocallable contingent yield notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Feb. 20 – Royal Bank of Canada priced $13.64 million of trigger autocallable contingent yield notes due Feb. 20, 2020 linked to the lesser performing of 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 8% if each index closes at or above its coupon barrier level, 73.75% of its initial level, on the related quarterly observation date.
After six months, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below the 73.75% 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: | Russell 2000 index, S&P 500 index
|
Amount: | $13,644,770
|
Maturity: | Feb. 20, 2020
|
Coupon: | 8%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
|
Price: | Par of $10
|
Call: | After six months, at par plus contingent coupon if both indexes closes at or above initial levels on any quarterly observation date other than the final one
|
Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
|
Initial index levels: | 1,522.096 for Russell, 2,698.63 for S&P
|
Coupon barriers: | 1,122.546 for Russell, 1,990.24 for S&P; 73.75% of initial levels
|
Downside thresholds: | 1,122.546 for Russell, 1,990.24 for S&P; 73.75% of initial levels
|
Pricing date: | Feb. 14
|
Settlement date: | Feb. 20
|
Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
Fees: | 1.5%
|
Cusip: | 78013Q426
|
|
© 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.