Published on 9/5/2018 in the Prospect News Structured Products Daily.
New Issue: RBC prices $39.36 million Accelerated Return Notes on S&P Regional Banks Select
By Wendy Van Sickle
Columbus, Ohio, Sept. 5 – Royal Bank of Canada priced $39.36 million of 0% Accelerated Return Notes due Oct. 25, 2019 linked to the S&P Regional Banks Select Industry index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 17.2%. Investors will be exposed to any index decline.
BofA Merrill Lynch is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying index: | S&P Regional Banks Select Industry
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Amount: | $39,360,890
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Maturity: | Oct. 25, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 17.2%; exposure to any index decline
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Initial level: | 1,963.67
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Final index level: | Average of index’s closing levels on five trading days ending Oct. 22, 2019
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Pricing date: | Aug. 30
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Settlement date: | Sept. 7
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 78014F650
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