Published on 7/22/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.35 million buffered PLUS tied to Euro Stoxx 50 index
By Wendy Van Sickle
Columbus, Ohio, July 22 – Royal Bank of Canada priced $2.35 million of 0% buffered Performance Leveraged Upside Securities due Aug. 4, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 2 times any index gain up to a maximum payout of $12.38 per $10 PLUS.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond the buffer.
RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management as a dealer.
Issuer: | Royal Bank of Canada
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | Euro Stoxx 50
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Amount: | $2,349,700
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Maturity: | Aug. 4, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain up to maximum payment of $12.38 per $10 PLUS; if index falls by up to 15%, par; otherwise, 1% loss per 1% decline beyond 15%
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Initial level: | 3,501.58
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Buffer level: | 85% of initial level
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Pricing date: | July 17
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Settlement date: | July 22
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Agent: | RBC Capital Markets, LLC with Morgan Stanley Wealth Management as a dealer
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Fees: | 2.5%
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Cusip: | 78014J173
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