Published on 6/4/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $6.32 million trigger step securities on Euro Stoxx
By Wendy Van Sickle
Columbus, Ohio, June 4 – Royal Bank of Canada priced $6.32 million of 0% trigger step securities due May 31, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and the step return of 64.1%.
Investors will receive par if the index declines by 25% or less and will lose 1% for each 1% decline from its initial level if the index falls more than 25%.
UBS Financial Services Inc. is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger step securities
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Underlying index: | Euro Stoxx 50
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Amount: | $6,320,280
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Maturity: | May 31, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is zero or positive, par plus greater of 64.1% and return; par if index declines by up to 25%; 1% loss for each 1% decline if index falls beyond 25%
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Initial level: | 3,428.14
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Downside threshold: | 2,571.11, 75% of initial level
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Pricing date: | May 29
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Settlement date: | May 31
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Agent: | UBS Financial Services Inc.
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Fees: | 3%
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Cusip: | 78013Q756
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