Published on 3/13/2019 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.47 million contingent yield trigger autocallables on Dow, Russell
By Marisa Wong
Morgantown, W.Va., March 13 – Royal Bank of Canada priced $8,004,100 of trigger autocallable contingent yield notes due Feb. 28, 2022 linked to the Dow Jones industrial average 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 8.3% if each index closes at or above its coupon barrier, 70% of its initial level, on the related quarterly observation date.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date after six months.
If each index finishes at or above its 70% downside threshold level, the payout at maturity will be par plus the contingent coupon. If either index finishes below the downside threshold, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index
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| Amount: | $2,467,000
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| Maturity: | Feb. 28, 2022
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| Coupon: | 8.3%, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after six months
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| Payout at maturity: | If each index finishes at or above its downside threshold, par plus the contingent coupon; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
|
| Initial levels: | 26,057.98 for Dow, 1,577.483 for Russell
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| Coupon barriers: | 18,240.59 for Dow, 1,104.238 for Russell; 70% of initial levels
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| Downside thresholds: | 18,240.59 for Dow, 1,104.238 for Russell; 70% of initial levels
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| Pricing date: | Feb. 26
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| Settlement date: | Feb. 28
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | None
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| Cusip: | 78014G823
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