New Issue: RBC sells $7.01 million five-year trigger gears linked to S&P 500

By Marisa Wong

Morgantown, W.Va., Feb. 27 – Royal Bank of Canada priced $7.01 million of 0% trigger gears due Feb. 29, 2024 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 1.37 times any index gain.

Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% downside threshold level.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Trigger gears
Underlying index:	S&P 500
Amount:	$7,014,830
Maturity:	Feb. 29, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.37 times any index gain; par if index falls by up to 25% and full exposure to any losses if index finishes below downside threshold
Initial level:	2,796.11
Downside threshold:	2,097.08, 75% of initial level
Pricing date:	Feb. 25
Settlement date:	Feb. 28
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	3.5%
Cusip:	78014H268

© 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.