Published on 4/17/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $5.46 million capped gears linked to four ETFs
By Angela McDaniels
Tacoma, Wash., April 17 – Royal Bank of Canada priced $5.46 million of 0% capped gears due July 17, 2018 linked to a basket of four exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the SPDR S&P 500 exchange-traded fund with a 38% weight, the iShares MSCI EAFE exchange-traded fund with a 31% weight, the iShares Russell 2000 exchange-traded fund with a 17% weight and the iShares MSCI Emerging Markets exchange-traded fund with a 14% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus three times the basket return, subject to a maximum return of 14%. If the basket return is negative, investors will be exposed to the decline.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Capped gears
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Underlying ETFs: SPDR S&P 500 ETF (38% weight), iShares MSCI EAFE ETF (31% weight), iShares Russell 2000 ETF (17% weight) and iShares MSCI Emerging Markets ETF (14% weight)
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Amount: | $5,464,000
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Maturity: | July 17, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket return is positive, par plus three times basket return, subject to 14% maximum return; if basket return is negative, one-to-one exposure to decline
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Initial share prices: | $234.03 for SPDR S&P 500, $135.04 for iShares Russell 2000, $61.99 for iShares MSCI EAFE and $39.31 for iShares MSCI Emerging Markets ETF
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Pricing date: | April 12
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Settlement date: | April 18
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Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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Fees: | 2%
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Cusip: | 78014E612
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