Published on 4/4/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $7.24 million buffered return optimization notes on 10 financial stocks
By Marisa Wong
Morgantown, W.Va., April 4 – Royal Bank of Canada priced $7.24 million of 0% buffered return optimization securities due March 29, 2018 linked to a basket of 10 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes the stocks of American International Group, Inc., Ameriprise Financial, Inc., Bank of America Corp., Citigroup Inc., Capital One Financial Corp., Discover Financial Services, Goldman Sachs Group, Inc., Invesco, Ltd., JPMorgan Chase & Co., Wells Fargo & Co.
The payout at maturity will be par of $10 plus 1.5 times any basket gain, up to a maximum return of 24.5%. Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% that it declines beyond 10%.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered return optimization securities
|
| Underlying stocks: | American International Group, Inc. (Symbol: AIG), Ameriprise Financial, Inc. (Symbol: AMP), Bank of America Corp. (Symbol: BAC), Citigroup Inc. (Symbol: C), Capital One Financial Corp. (Symbol: COF), Discover Financial Services (Symbol: DFS), Goldman Sachs Group, Inc. (Symbol: GS), Invesco, Ltd. (Symbol: IVZ), JPMorgan Chase & Co. (Symbol: JPM), Wells Fargo & Co. (Symbol: WFC); equally weighted
|
| Amount: | $7,241,220
|
| Maturity: | March 29, 2018
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.5 times any basket gain, up to a maximum return of 24.5%; par if basket falls by up to 10%; 1% loss for every 1% that basket declines beyond 10%
|
| Initial prices: | $53.41 for AIG, $93.39 for Ameriprise, $13.62 for BofA, $41.92 for Citi, $69.20 for Capital One, $49.28 for Discover, $153.84 for Goldman, $30.49 for Invesco, $59.40 for JPMorgan, $48.70 for Wells Fargo
|
| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 2%
|
| Cusip: | 78013C807
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
