Published on 8/25/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $814,000 notes on basket of 14 Raymond James stock picks
By Marisa Wong
Los Angeles, Aug. 25 – Royal Bank of Canada priced $814,000 of 0% notes due Jan. 26, 2023 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 14 common stocks selected by Raymond James & Associates, Inc.
The reference shares are Evoqua Water Technologies Corp., Atlantica Sustainable Infrastructure plc, Bloom Energy Corp., CSX Corp., FTC Solar, Inc., Chart Industries, Inc., Itron, Inc., NextEra Energy Partners, LP, Sunnova Energy International Inc., PotlatchDeltic Corp., TPI Composites, Inc., Union Pacific Corp., View, Inc., Weyerhaeuser Co.
The final share price for each stock is the sum of its closing price on the valuation date and its dividend amount.
The payout at maturity will be par times 98.85% of the basket level percentage. Because of the 98.85% participation rate, investors will receive less than par if the basket does not gain by at least 1.17%.
RBC Capital Markets, LLC is the agent. Raymond James will handle distribution.
| Issuer: | Royal Bank of Canada
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| Issue: | Notes
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| Underlying basket: | Evoqua Water Technologies Corp. (Symbol: AQUA), Atlantica Sustainable Infrastructure plc (Symbol: AY), Bloom Energy Corp. (Symbol: BE), CSX Corp. (Symbol: CSX), FTC Solar, Inc. (Symbol: FTCI), Chart Industries, Inc. (Symbol: GTLS), Itron, Inc. (Symbol: ITRI), NextEra Energy Partners, LP (Symbol: NEP), Sunnova Energy International Inc. (Symbol: NOVA), PotlatchDeltic Corp. (Symbol: PCH), TPI Composites, Inc. (Symbol: TPIC), Union Pacific Corp. (Symbol: UNP), View, Inc. (Symbol: VIEW), Weyerhaeuser Co. (Symbol: WY); equally weighted
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| Amount: | $814,000
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| Maturity: | Jan. 26, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par times 98.85% of the basket level percentage; investors will receive less than par if the basket does not gain by at least 1.17%
|
| Initial share prices: | $32.80 for Evoqua, $39.17 for Atlantica, $21.49 for Bloom, $32.81 for CSX, $10.40 for FTC, $146.24 for Chart, $95.23 for Itron, $74.30 for NextEra, $34.82 for Sunnova, $52.59 for PotlatchDeltic, $37.68 for TPI, $220.15 for Union Pacific, $6.71 for View, $34.58 for Weyerhaeuser
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| Final price: | For each stock, sum of closing price on Jan. 23, 2023 and its dividend amount
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| Pricing date: | July 23
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| Settlement date: | July 28
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| Agent: | RBC Capital Markets, LLC with distribution through Raymond James
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| Fees: | None; up to 0.55% structuring fee
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| Cusip: | 78013GU94
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