By Jennifer Chiou
New York, May 29 - Royal Bank of Canada priced $2,693,600 of 0% trigger performance securities due May 31, 2019 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par of $10 plus 113.87% of the fund return. If the final fund level is at least 60% of the initial level, investors will receive par.
If the final level is less than 60% of the initial fund level, investors will be fully exposed to the decline from the initial level.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the underwriters.
| Issuer: | Royal Bank of Canada
|
| Issue: | Trigger performance securities
|
| Underlying ETF: | Vanguard FTSE Emerging Markets exchange-traded fund
|
| Amount: | $2,693,600
|
| Maturity: | May 31, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 113.87% of any increase in fund; par if fund falls by 40% or less; full exposure to decline from initial level if fund falls beyond 40%
|
| Initial fund level: | $42.55
|
| Trigger level: | $25.53, 60% of initial level
|
| Pricing date: | May 27
|
| Settlement date: | May 30
|
| Underwriters: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 3.5%
|
| Cusip: | 78011Q303
|
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