Published on 1/4/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $7.31 million PLUS due 2018 linked to basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – Royal Bank of Canada priced $7.31 million of 0% Performance Leveraged Upside Securities due June 28, 2018 linked to a basket of indexes and exchange traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the S&P 500 index and the Euro Stoxx 50 index, each with a 25% weight, the Market Vectors Gold Miners ETF with a 15% weight, the iShares NASDAQ Biotechnology ETF with a 15% weight, the WisdomTree Japan Hedged Equity fund with a 10% weight and the WisdomTree India Earnings fund with a 10% weight.
If the final basket level is greater than or equal to the initial level, the payout will be par double the gain up to a maximum return of 7%. Investors will be fully exposed to any decline in the basket.
RBC Capital Markets LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | Royal Bank of Canada
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| Issue: | Performance Leveraged Upside Securities
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| Basket components: | S&P 500 index and Euro Stoxx 50 index, each with a 25% weight, Market Vectors Gold Miners ETF with a 15% weight, iShares NASDAQ Biotechnology ETF with a 15% weight, WisdomTree Japan Hedged Equity fund with a 10% weight and WisdomTree India Earnings fund with a 10% weight
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| Amount: | $7,309,990
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| Maturity: | June 28, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final basket level is greater than initial level, par plus double gain, subject to 7% maximum return; full exposure to any basket decline
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| Initial levels: | 2,249.92 for S&P 500, 3,278.72 for Stoxx, $20.24 for Gold Miners, $268.08 for biotech ETF, $50.29 for WisdomTree Japan and $19.77 for WisdomTree India
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| Pricing date: | Dec. 28
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| Settlement date: | Jan. 3
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| Underwriter: | RBC Capital Markets, LLC
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| Fees: | 1.75%
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| Cusip: | 78014E190
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