Published on 1/10/2018 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1 million digital plus barrier notes linked to Amazon.com
By Marisa Wong
Morgantown, W.Va., Jan. 10 – Royal Bank of Canada priced $1 million of 0% digital plus barrier notes due Jan. 13, 2020 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than 122.6% of the initial share price, the payout at maturity will be par plus 22.6%.
If the final share price is greater than or equal to the barrier level, 75% of the initial share price, but less than or equal to 122.6% of the initial share price, the payout at maturity will be par plus the greater of 10% and the stock return.
If the final share price is less than the barrier level, the payout will be a number of Amazon.com shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Digital plus barrier notes
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| Underlying stock: | Amazon.com, Inc. (Symbol: AMZN)
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| Amount: | $1 million
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| Maturity: | Jan. 13, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final share price is greater than 122.6% of initial share price, par plus 22.6%; if final share price is greater than or equal to barrier level but less than or equal to 122.6% of initial share price, par plus greater of 10% and stock return; if final share price is less than barrier level, number of Amazon.com shares equal to $1,000 divided by initial share price or, at issuer’s option, cash equivalent
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| Initial share price: | $1,246.87
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| Barrier level: | $935.15, 75% of initial share price
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| Pricing date: | Jan. 8
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| Settlement date: | Jan. 11
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| Underwriter: | RBC Capital Markets, LLC
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| Fees: | 1%
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| Cusip: | 78013GFK6
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