Published on 3/26/2015 in the Prospect News Structured Products Daily.
New Issue: RBC prices $6.83 million autocallable notes tied to two iShares funds
By Marisa Wong
Madison, Wis., March 26 – Royal Bank of Canada priced $6.83 million of 0% autocallable notes due Sept. 29, 2016 linked to the worst performing of the iShares MSCI EAFE exchange-traded fund and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called if the closing price of each fund on any observation date is greater than or equal to its initial level. The call amount will be $1,047.50 if the notes are called on Sept. 25, 2015, $1,095 if they are called on March 28, 2016 and $1,142.50 if they are called on Sept. 26, 2016.
If the notes are not called and the worst performing fund falls by 20% or less, the payout will be par. Otherwise, investors will lose 1.25% for each 1% decline of the worst performing fund beyond 20%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Market-linked securities
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| Underlying ETFs: | iShares MSCI EAFE exchange-traded fund and the iShares Russell 2000 ETF
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| Amount: | $6,832,000
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| Maturity: | Sept. 29, 2016
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If notes are not called and worst performing fund falls by 20% or less, par; otherwise, 1.25% loss for each 1% decline of worst performing fund beyond 20%
|
| Call: | Automatically if closing price of each fund on any observation date is greater than or equal to its initial level; call amount will be $1,047.50 if notes are called on Sept. 25, 2015, $1,095 if called on March 28, 2016 and $1,142.50 if called on Sept. 26, 2016
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| Initial prices: | $65.54 for iShares EAFE and $122.47 for iShares Russell
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| Pricing date: | March 25
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| Settlement date: | March 30
|
| Agent: | RBC Capital Markets, LLC
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| Fees: | 0.05%
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| Cusip: | 78012KCW5
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