Published on 7/11/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.52 million of market-linked buffered autocalls on Stoxx 50
By Susanna Moon
Chicago, July 11 – Royal Bank of Canada priced $2.52 million of 0% market-linked securities – autocallable with fixed percentage buffered downside due July 6, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus annualized call premium of 9% if the index closes at or above its initial level on any observation date after one year.
The payout at maturity will be par unless the index falls by more than 10%, in which case the payout will be par plus the return with exposure to any losses beyond the buffer.
Wells Fargo Securities, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Market-linked securities – autocallable with fixed percentage buffered downside
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Underlying index: | Euro Stoxx 50
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Amount: | $2,524,000
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Maturity: | July 6, 2021
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Coupon: | 0%
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Price: | Par
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Call: | At par plus 9% per year if index closes at or above initial level on any observation date beginning July 8, 2019
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Payout at maturity: | Par unless the index falls by more than 10%, in which case the payout will be par plus the return with exposure to any losses beyond the 10%
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Initial level: | 3,395.60
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Pricing date: | June 29
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Settlement date: | July 5
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.86%
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Cusip: | 78013XLL0
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