Published on 10/5/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.71 million PLUS linked to oil services ETF
By Angela McDaniels
Tacoma, Wash., Oct. 5 – Royal Bank of Canada priced $2.71 million of 0% Performance Leveraged Upside Securities due Nov. 3, 2017 linked to the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par of $10 plus 300% of the ETF return, subject to a maximum return of 28.5%. If the ETF return is negative, investors will be exposed to the decline.
RBC Capital Markets LLC is the agent with Morgan Stanley Wealth Management acting as distributor.
Issuer: | Royal Bank of Canada
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Issue: | Performance Leveraged Upside Securities
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Underlying ETF: | VanEck Vectors Oil Services ETF
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Amount: | $2,706,000
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Maturity: | Nov. 3, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If ETF return is positive, par plus 300% of ETF return, subject to 28.5% maximum return; if ETF declines, full exposure to decline
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Initial share price: | $29.28
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Agent: | RBC Capital Markets LLC
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 2.25%
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Cusip: | 78014C582
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