Published on 10/18/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $8.66 million Accelerated Return Notes linked to SPDR Gold Shares
By Angela McDaniels
Tacoma, Wash., Oct. 18 – Royal Bank of Canada priced $8.66 million of 0% Accelerated Return Notes due Dec. 24, 2020 linked to the SPDR Gold Shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 300% of any increase in the ETF, subject to a maximum return of 11.76%. Investors will be exposed to any decline in the ETF’s share price.
BofA Securities Inc. is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying ETF: | SPDR Gold Shares (Symbol: GLD)
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Amount: | $8,662,070
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Maturity: | Dec. 24, 2020
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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 increase in ETF, subject to maximum return of 11.76%; exposure to any decline in ETF’s share price
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Initial share price: | $140.41
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Final share price: | Average of closing share prices on five trading days ending Dec. 21, 2020
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Pricing date: | Oct. 16
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Settlement date: | Oct. 23
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Underwriter: | BofA Securities Inc.
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Fees: | 2%
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Cusip: | 78014F379
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