Published on 11/8/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $750,000 geared buffered reverse convertible notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Nov. 8 – Royal Bank of Canada priced $750,000 of 4.08% geared buffered reverse convertible notes due Feb. 9, 2021 linked to the worse performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless either index falls by more than the 20% buffer, in which case investors will lose 1.25% for each 1% that the lesser performing index falls beyond 20%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
|
Issue: | Geared buffered reverse convertible notes
|
Underlying indexes: | Russell 2000 index, Nasdaq-100 index
|
Amount: | $750,000
|
Maturity: | Feb. 9, 2021
|
Coupon: | 4.08%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par unless either index falls by more than 20%, in which case 1.25% loss for each 1% that the lesser performing index falls beyond 20%
|
Initial levels: | 1,597.396 for Russell, 8,210.664 for Nasdaq
|
Buffer levels: | 1,277.917 for Russell, 6,658.651 for Nasdaq, 80% of initial levels
|
Pricing date: | Nov. 4
|
Settlement date: | Nov. 7
|
Agent: | RBC Capital Markets, LLC
|
Fees: | 0.75%
|
Cusip: | 78015KDQ4
|
|
© 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.