New Issue: RBC prices $3.89 million trigger absolute return autocallables on United Continental

By Wendy Van Sickle

Columbus, Ohio, Feb. 24 – Royal Bank of Canada priced $3.89 million of 0% trigger absolute return autocallable notes due Feb. 27, 2019 linked to United Continental Holdings, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 12.8% if the shares close at or above its initial share price on any quarterly observation date.

If the stock finishes above its 65% downside threshold, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

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

Issuer:	Royal Bank of Canada
Issue:	Trigger absolute return autocallable notes
Underlying stock:	United Continental Holdings, Inc.
Amount:	$3,889,000
Maturity:	Feb. 27, 2019
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If final share price is greater than or equal to downside threshold, par plus absolute value of stock return; otherwise, full exposure to share price decline
Call:	At par plus 12.8% per year if shares close at or above initial share price on any quarterly observation date
Initial share price:	$75.43
Downside threshold:	$49.03, 65% of initial price
Pricing date:	Feb. 22
Settlement date:	Feb. 27
Underwriters:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1.5%
Cusip:	78014E430

© 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.