Published on 4/6/2015 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.14 million trigger phoenix autocallables on three indexes
By Marisa Wong
Madison, Wis., April 6 – Royal Bank of Canada priced $2.14 million of trigger phoenix autocallable notes due March 31, 2020 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.2% if each index closes at or above its coupon barrier level, 75% of its initial level, on an observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and each index finishes at or above its 75% trigger level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the decline of the worst-performing index.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Trigger phoenix autocallable notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $2,141,000
|
| Maturity: | March 31, 2020
|
| Coupon: | 10.2% per year, payable quarterly if each index closes at or above its coupon barrier level on an observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its trigger level, par plus final coupon; otherwise, full exposure to decline of worst-performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly observation date
|
| Initial levels: | 2,061.02 for S&P 500, 1,240.41 for Russell 2000, 3,679.03 for Euro Stoxx 50
|
| Trigger/barrier levels: | 1,545.77 for S&P 500, 930.31 for Russell 2000, 2,759.27 for Euro Stoxx 50; 75% of initial levels
|
| Pricing date: | March 27
|
| Settlement date: | March 31
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78012KCT2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
