By Marisa Wong
Morgantown, W.Va., July 21 – Royal Bank of Canada priced $12.17 million of 0% Performance Leveraged Upside Securities due Oct. 3, 2018 linked to the Alerian MLP exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 300% of any fund gain, up to a maximum return of 35.5%.
Investors will be exposed to any losses.
RBC Capital Markets, LLC is the agent, with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Royal Bank of Canada
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| Issue: | Performance Leveraged Upside Securities
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| Underlying ETF: | Alerian MLP ETF
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| Amount: | $12.17 million
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| Maturity: | Oct. 3, 2018
|
| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If ETF return is positive, par of $10 plus triple the ETF return, subject to a maximum payment of $13.55 per PLUS; full exposure to losses
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| Initial price: | $11.96
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | RBC Capital Markets, LLC
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| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.25%
|
| Cusip: | 78014E877
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