Published on 10/3/2019 in the Prospect News Structured Products Daily.
New Issue: RBC sells $5.17 million contingent coupon barrier autocalls on indexes, ETFs
By Wendy Van Sickle
Columbus, Ohio, Oct. 3 – Royal Bank of Canada priced $5.17 million of autocallable contingent coupon barrier notes due Sept. 30, 2021 linked to the least performing of the Russell 2000 index, Nasdaq-100 index and SPDR Dow Jones Industrial Average ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 12.07% if all the assets close at or above their coupon barriers, 80% of their initial levels, on the applicable quarterly observation date.
The notes will be called at par plus the coupon 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 any asset finishes below its 80% trigger level, in which case investors will lose 1% for each 1% that the least-performing asset’s final level is less than its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying assets: | Russell 2000 index, Nasdaq-100 index and SPDR Dow Jones Industrial Average ETF
|
| Amount: | $5,165,000
|
| Maturity: | Sept. 30, 2021
|
| Coupon: | 12.07%, payable quarterly if each asset closes at or above coupon barrier on observation date for that quarter
|
| Level: | Par
|
| Payout at maturity: | Par unless any asset finishes below trigger level, in which case par plus return of the least-performing asset
|
| Call: | Automatically at par if each asset closes at or above initial level on any quarterly observation date
|
| Initial levels: | 1,520.476 for Russell, 7,681.579 for Nasdaq, $267.99 $54.41 for ETF
|
| Coupon barriers: | 1,216.381 for Russell, 6,145.263 for Nasdaq, $214.39 for ETF; 80% of initial levels
|
| Trigger levels: | 1,216.381 for Russell, 6,145.263 for Nasdaq, $214.39 for ETF; 80% of initial levels
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 24
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 1.75%
|
| Cusip: | 78015KBB9
|
|
|
© 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.
