Published on 4/27/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $6.17 million trigger absolute return step notes on Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, April 27 – Royal Bank of Canada priced $6.17 million of 0% trigger absolute return step securities due April 28, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the step return of 59%.
If the index falls but finishes at or above the 70% downside threshold, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
RBC Capital Markets, LLC is the agent with UBS Financial Services Inc. as dealer.
Issuer: | Royal Bank of Canada
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Issue: | Trigger absolute return step securities
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Underlying index: | Euro Stoxx 50
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Amount: | $6,173,050
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Maturity: | April 28, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index gains, par plus the greater of the gain and the step return of 59%; if index falls but finishes at or above downside threshold, par plus absolute value of the return; otherwise, full exposure to any losses
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Initial level: | 3,506.03
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Downside threshold: | 2,454.22, 70% of initial level
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Pricing date: | April 26
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Settlement date: | April 30
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Agent: | RBC Capital Markets, LLC
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Dealer: | UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 78013Q632
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