By Tali Rackner
Norfolk, Va., March 31 – Royal Bank of Canada priced $127,500 of 0% trigger performance securities due March 31, 2021 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par of $10 plus 150% of the return.
If the return is zero or negative and the final share price is greater than or equal to the trigger price, 75% of the initial share price, the payout will be par.
If the final share price is less than the trigger price, investors will be fully exposed to the decline in the fund from its initial share price.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Trigger performance securities
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| Underlying fund: | Energy Select Sector SPDR fund
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| Amount: | $127,500
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| Maturity: | March 31, 2021
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If fund return is positive, par plus 150% of return; if fund return is zero or negative and fund’s final share price is greater than or equal to trigger level, par; if final share price is less than trigger level, full exposure to decline in fund from initial share price
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| Initial share price: | $61.53
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| Trigger level: | $46.15, 75% of initial share price
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| Pricing date: | March 28
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| Settlement date: | March 31
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 0.5%
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| Cusip: | 78013C765
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