Published on 3/17/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.57 million trigger securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 17 – Royal Bank of Canada priced $4.57 million of 0% trigger securities due March 16, 2027 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 of $10 plus any gain in the index.
If the index declines but finishes at or above the 59.5% downside threshold, the payout will be par. Otherwise, investors will be fully exposed to index’s decline from its initial level.
RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Trigger securities
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Underlying index: | S&P 500
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Amount: | $4,572,000
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Maturity: | March 16, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus any index gain; par if index declines but does not finish below downside threshold; otherwise, full exposure to decline
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Initial level: | 4,204.31
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Downside threshold: | 2,501.56; 59.5% of initial level
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Pricing date: | March 11
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Settlement date: | March 16
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Agents: | RBC Capital Markets, LLC and UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 78016C515
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