By Angela McDaniels
Tacoma, Wash., April 6 – Royal Bank of Canada priced $3.34 million of 0% dual directional trigger Performance Leveraged Upside Securities due April 6, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus 115% of the index return.
If the final index level is less than or equal to the initial index level but greater than or equal to the trigger level, the payout will be par plus the absolute value of the index return. The trigger level is 65% of the initial index level.
If the final index level is less than the trigger level, investors will be fully exposed to the decline from the initial index level.
RBC Capital Markets, LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | Royal Bank of Canada
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $3,335,260
|
| Maturity: | April 6, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than initial index level, par plus 115% of index return; if final index level is less than or equal to initial index level but greater than or equal to trigger level, par plus absolute value of index return; if final index level is less than trigger level, full exposure to decline from initial index level
|
| Initial index level: | 3,697.38
|
| Pricing date: | March 31
|
| Settlement date: | April 7
|
| Agent: | RBC Capital Markets, LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 780082616
|
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