Published on 7/17/2019 in the Prospect News Structured Products Daily.
RBC lowers amount of contingent digital return barrier notes on Wynn
By Sarah Lizee
Olympia, Wash., July 17 – Royal Bank of Canada lowered the amount of its 0% contingent digital return barrier notes due July 29, 2020 linked to the common stock of Wynn Resorts, Ltd. to $1.15 million from $1.2 million, according to an amended 424B2 filing with the Securities and Exchange Commission.
No other changes were made.
If the stock’s return is greater than or equal to 69.1% of its initial level, the payout at maturity will be par plus 15%. Otherwise, investors will lose 1% for every 1% that the stock declines from its initial price.
RBC Capital Markets, LLC is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
Issuer: | Royal Bank of Canada
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Issue: | Contingent digital return barrier notes
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Underlying: | Wynn Resorts, Ltd.
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Amount: | $1,145,000
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Maturity: | July 29, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the stock’s return is greater than or equal to 69.1% of its initial level, the payout at maturity will be par plus 15%; otherwise, investors will lose 1% for every 1% that the stock declines from its initial price
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Initial share price: | $133.89
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Barrier price: | $92.52, 69.1% of initial level
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Pricing date: | July 12
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Settlement date: | July 17
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Underwriter: | RBC Capital Markets, LLC
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Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 78013XWK0
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