Published on 8/13/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.31 million buffered PLUS on iShares Global Clean Energy ETF
By Kiku Steinfeld
Chicago, Aug. 13 – Royal Bank of Canada priced $1.31 million of 0% buffered Performance Leveraged Upside Securities due Feb. 5, 2024 linked to the iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF return, subject to a maximum return of $11.80 per security. Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond the 10% buffer.
RBC Capital Markets, LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
Issuer: | Royal Bank of Canada
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying ETF: | iShares Global Clean Energy ETF
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Amount: | $1,306,660
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Maturity: | Feb. 5, 2024
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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 200% of ETF return, capped at $11.80 per security; par if ETF declines by 10% or less; 1% loss for every 1% that ETF declines beyond 10% buffer
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Initial level: | $22.10
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Buffer level: | 90% of initial level
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Pricing date: | July 16
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Settlement date: | July 21
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Agent: | RBC Capital Markets, LLC with Morgan Stanley Wealth Management as distributor
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Fees: | 3%
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Cusip: | 78014U319
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