Published on 8/26/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1 million contingent digital return barrier notes on three indexes
By Sarah Lizee
Olympia, Wash., Aug. 26 – Royal Bank of Canada priced $1 million of 0% contingent digital return barrier notes due Sept. 25, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing index’s return is greater than or equal to 65% of its initial level, the payout at maturity will be par plus 5.2%. If the least performing index’s return is less than 65% of its initial level, investors will lose 1% for every 1% that the least performing index declines from its initial level.
RBC Capital Markets, LLC is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Contingent digital return barrier notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $1 million
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| Maturity: | Sept. 25, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the least performing index’s return is greater than or equal to 65% of its initial level, par plus 5.2%; if the least performing index’s return is less than 65% of its initial level, 1% loss for every 1% that the least performing index declines from its initial level
|
| Initial levels: | 1,506.002 for Russell, 2,922.95 for S&P, 3,373.67 for Stoxx
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| Barrier levels: | 978.901 for Russell, 1,899.92 for S&P, 2,192.89 for Stoxx, 65% of initial levels
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| Pricing date: | Aug. 22
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| Settlement date: | Aug. 27
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| Underwriter: | RBC Capital Markets, LLC
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| Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 0.8%
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| Cusip: | 78015KAN4
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