Published on 10/24/2018 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.15 million autocallable barrier notes tied to Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 24 – Royal Bank of Canada priced $3.15 million of 0% autocallable barrier notes due Oct. 20, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 11% per year if each index closes at or above its initial level on any quarterly observation date.
The payout will be par unless any index has finished below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Autocallable barrier notes
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Underlying indexes: | Russell 2000 index and Euro Stoxx 50 index
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Amount: | $3.15 million
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Maturity: | Oct. 20, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless any index has finished below barrier level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
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Call: | At par plus 11% per year if each index closes at or above initial level on any quarterly observation date
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Initial index levels: | 1,589.604 for Russell, 3,243.08 for Stoxx
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Barrier levels: | 1,033.243 for Russell, 2,108.00 for Stoxx; 65% of initial levels
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Pricing date: | Oct. 17
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Settlement date: | Oct. 22
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.75%
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Cusip: | 78013XN79
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