Published on 8/1/2019 in the Prospect News Structured Products Daily.
New Issue: RBC sells $4.55 million trigger autocallable contingent yield notes on ETF, index
By Sarah Lizee
Olympia, Wash., Aug. 1 – Royal Bank of Canada priced $4.55 million of trigger autocallable contingent yield notes due Aug. 3, 2022 linked to the iShares MSCI Emerging Markets ETF and the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.2% if each asset closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each asset closes at or above its initial level on any observation date after six months.
The payout at maturity will be par plus the coupon unless either asset finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing asset from its initial level.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying assets: | iShares MSCI Emerging Markets ETF and the Hang Seng China Enterprises index
|
| Amount: | $4,553,000
|
| Maturity: | Aug. 3, 2022
|
| Coupon: | 7.2% payable quarterly if each asset closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any observation date after six months
|
| Payout at maturity: | Par plus coupon unless either asset closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing asset from initial level
|
| Initial levels: | $42.62 for ETF, 10,780.59 for index
|
| Coupon barriers: | $29.83 for ETF, 7,546.41 for index, 70% of initial levels
|
| Downside thresholds: | $29.83 for ETF, 7,546.41 for index, 70% of initial levels
|
| Pricing date: | July 29
|
| Settlement date: | July 31
|
| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
|
| Fees: | 2%
|
| Cusip: | 78014J264
|
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