Published on 12/9/2020 in the Prospect News Structured Products Daily.
New Issue: RBC sells $3 million five-year trigger gears linked to S&P 500
By Cady Vishniac
Detroit, Dec. 8 – Royal Bank of Canada priced $3 million of 0% trigger gears due Dec. 8, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.231 times any index gain.
If the index falls by up to 25%, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and RBC Capital Markets LLC are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Trigger gears
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Underlying index: | S&P 500 index
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Amount: | $3 million
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Maturity: | Dec. 8, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.231 times any index gain; if index falls by up to 25%, par; otherwise, 1% loss for each 1% decline below initial level
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Initial index level: | 3,669.01
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Downside threshold: | 2,751.76, 75% of initial level
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Pricing date: | Dec. 3
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Settlement date: | Dec.8
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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: | 78014M424
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