Published on 6/14/2019 in the Prospect News Structured Products Daily.
New Issue: RBC sells $11.86 million trigger autocallable contingent yield notes on Russell, Dow
By Sarah Lizee
Olympia, Wash., June 14 – Royal Bank of Canada priced $11.86 million of trigger autocallable contingent yield notes due June 17, 2021 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 7.9% if each asset closes at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.
After six months, the notes will be called at par of $10 if each asset closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless either asset finishes below the downside threshold level, 75% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing asset from its initial level.
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, Dow Jones industrial average
|
| Amount: | $11,857,000
|
| Maturity: | June 17, 2021
|
| Coupon: | 7.9%, 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 if both indexes close at or above initial levels on any quarterly observation date
|
| 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: | 1,519.792 for Russell, 26,004.83 for Dow
|
| Coupon barriers: | 1,139.840 for Russell, 19,503.62 for Dow; 75% of initial levels
|
| Downside thresholds: | 1,139.840 for Russell, 19,503.62 for Dow; 75% of initial levels
|
| Pricing date: | June 12
|
| Settlement date: | June 17
|
| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 1.5%
|
| Cusip: | 78014J116
|
© 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.
