Published on 7/3/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $15.33 million Accelerated Return Notes on index basket
By Wendy Van Sickle
Columbus, Ohio, July 3 – Royal Bank of Canada priced $15.33 million of 0% Accelerated Return Notes due Aug. 28, 2020 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par of $10 plus triple any basket gain, subject to a maximum return of 19.36%. Investors will be exposed to any basket decline.
BofA Merrill Lynch is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
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Amount: | $15,325,760
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Maturity: | Aug. 28, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any basket gain, subject to a maximum return of 19.36%; full exposure to any basket decline
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Initial index levels: | 3,442.38 for Stoxx, 7,402.33 for FTSE, 21,338.17 for Nikkei, 9,859.76 for Swiss, 6,666.313 for S&P/ASX, 28,621.42 for Hang Seng
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Pricing date: | June 27
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Settlement date: | July 5
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 78014F478
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