By Marisa Wong
Morgantown, W.Va., May 20 – Royal Bank of Canada priced $6,098,000 of trigger autocallable contingent yield notes due April 29, 2022 linked to the SPDR Dow Jones industrial average ETF and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.4% if each ETF closes at or above its coupon barrier, 70% of its initial value, on the related quarterly observation date.
After six months, the notes will be called at par of $10 if each ETF closes at or above its initial value on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless either ETF finishes below the downside threshold level, 70% of its initial value, in which case investors will lose 1% for every 1% decline of the worse performing ETF from its initial value.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETFs: | SPDR Dow Jones industrial average ETF and iShares MSCI Emerging Markets ETF
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| Amount: | $6,098,000
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| Maturity: | April 29, 2022
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| Coupon: | 7.4%, payable each quarter that each ETF closes at or above coupon barrier on related quarterly observation date
|
| Price: | Par of $10
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| Call: | After six months, at par if both ETFs close at or above initial values on any quarterly observation date
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| Payout at maturity: | Par unless either ETF finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing ETF
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| Initial values: | $265.34 for Dow ETF, $43.88 for EM ETF
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| Coupon barriers: | $185.74 for Dow ETF, $30.72 for EM ETF; 70% of initial values
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| Downside thresholds: | $185.74 for Dow ETF, $30.72 for EM ETF; 70% of initial values
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| Pricing date: | April 26
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| Settlement date: | April 30
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 2%
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| Cusip: | 78014H581
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