Published on 7/16/2019 in the Prospect News Structured Products Daily.
RBC amends Cusip for callable contingent coupon notes on indexes, ETF
By Sarah Lizee
Olympia, Wash., July 16 – Royal Bank of Canada amended the Cusip number for its $400,000 of issuer callable contingent coupon barrier notes due June 29, 2023 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the SPDR S&P Biotech ETF, according to a 424B3 filing with the Securities and Exchange Commission.
The Cusip number was changed to 78013XZQ4 from 78013XV54 previously.
No other changes were made, the filing noted.
Each quarter, the notes pay a contingent coupon at an annual rate of 13.9% if each underlying closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes are callable at par plus any coupon on any interest payment date.
The payout at maturity will be par unless any underlying finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the least-performing underlying from its initial level.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Issuer callable contingent coupon barrier notes
|
| Underlying assets: | Euro Stoxx 50 index, Russell 2000 index and SPDR S&P Biotech ETF
|
| Amount: | $400,000
|
| Maturity: | June 29, 2023
|
| Coupon: | 13.9%, payable quarterly if each underlying closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying finishes below trigger level, in which case 1% loss for each 1% decline of least-performing underlying from initial level
|
| Call: | At par plus any coupon on any interest payment date
|
| Initial levels: | $85.49 for ETF, 3,455.57 for Stoxx, 1,540.820 for Russell
|
| Coupon/trigger levels: | $59.84 for ETF, 2,418.90 for Stoxx, 1,078.574 for Russell; 70% of initial levels
|
| Pricing date: | June 24
|
| Settlement date: | June 27
|
| Agents: | RBC Capital Markets, LLC
|
| Fees: | None
|
| Cusip: | 78013XZQ4
|
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