Published on 9/23/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $655,000 notes on basket of 25 Raymond James stock picks
By Marisa Wong
Los Angeles, Sept. 23 – Royal Bank of Canada priced $655,000 of 0% notes due March 23, 2022 linked to Raymond James securities selections, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to an equally weighted basket of 25 common stocks selected by Raymond James & Associates, Inc.
The reference shares are Aaron’s, Inc., Abbott Laboratories, Best Buy Co., Inc., Change Healthcare Inc., Citrix Systems, Inc., Dollar General Corp., Darden Restaurants, Inc., NIC Inc., Eagle Materials Inc., Fastly, Inc., GMS Inc., Hanesbrands Inc., Jabil Inc., Leggett & Platt, Inc., Microchip Technology Inc., M.D.C. Holdings, Inc., Motorola Solutions, Inc., PulteGroup Inc., Polaris Inc., Qualcomm Inc., RingCentral, Inc., Teleflex Inc., Texas Roadhouse, Inc., Wesco International, Inc. and Zimmer Biomet Holdings, Inc.
The payout at maturity will be par times 97.35% times the basket level percentage. The basket level percentage is the sum of the weighted reference stock performances. Because of the participation rate, investors will receive less than par if the basket does not gain by at least 2.73%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Notes linked to Raymond James securities selections
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| Underlying stocks: | Aaron’s, Inc. (Symbol: AAN), Abbott Laboratories (Symbol: ABT), Best Buy Co., Inc. (Symbol: BBY), Change Healthcare Inc. (Symbol: CHNG), Citrix Systems, Inc. (Symbol: CTXS), Dollar General Corp. (Symbol: DG), Darden Restaurants, Inc. (Symbol: DRI), NIC Inc. (Symbol: EGOV), Eagle Materials Inc. (Symbol: EXP), Fastly, Inc. (Symbol: FSLY), GMS Inc. (Symbol: GMS), Hanesbrands Inc. (Symbol: HBI), Jabil Inc. (Symbol: JBL), Leggett & Platt, Inc. (Symbol: LEG), Microchip Technology Inc. (Symbol: MCHP), M.D.C. Holdings, Inc. (Symbol: MDC), Motorola Solutions, Inc. (Symbol: MSI), PulteGroup Inc. (Symbol: PHM), Polaris Inc. (Symbol: PII), Qualcomm Inc. (Symbol: QCOM), RingCentral, Inc. (Symbol: RNG), Teleflex Inc. (Symbol: TFX), Texas Roadhouse, Inc. (Symbol: TXRH), Wesco International, Inc. (Symbol: WCC) and Zimmer Biomet Holdings, Inc. (Symbol: ZBH); equally weighted
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| Amount: | $655,000
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| Maturity: | March 23, 2022
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| Price: | Par of $1,000
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| Payout at maturity: | Par times 97.35% times the basket level percentage, which is sum of the weighted reference stock performances
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| Initial share prices: | $56.18 for Aaron’s, $106.86 for Abbott, $105.58 for Best Buy, $14.73 for Change Healthcare, $133.99 for Citrix, $208.10 for Dollar General, $89.97 for Darden, $20.73 for NIC, $85.87 for Eagle Materials, $83.77 for Fastly, $22.71 for GMS, $15.67 for Hanesbrands, $33.42 for Jabil, $44.07 for Leggett, $101.40 for Microchip Technology, $46.17 for M.D.C., $157.31 for Motorola, $44.98 for PulteGroup, $89.58 for Polaris, $110.69 for Qualcomm, $257.86 for RingCentral, $337.96 for Teleflex, $62.32 for Texas Roadhouse, $44.78 for Wesco and $138.87 for Zimmer Biomet
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| Pricing date: | Sept. 18
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| Settlement date: | Sept. 30
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 1.5%
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| Cusip: | 78013GXG5
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