Published on 11/13/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.05 million geared buffered reverse convertible notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, Nov. 13 – Royal Bank of Canada priced $3.05 million of 5.2% geared buffered reverse convertible notes due Sept. 12, 2019 linked to the worse performing of the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless either asset falls by more than the 17.5% buffer, in which case investors will lose 1.2121% for each 1% that the lesser performing asset falls beyond 17.5%.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Geared buffered reverse convertible notes
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Underlying assets: | Russell 2000 index, iShares MSCI EAFE ETF
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Amount: | $3.05 million
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Maturity: | Sept. 12, 2019
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Coupon: | 5.2%, payable monthly
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Price: | Par of $10
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Payout at maturity: | Par unless either asset falls by more than 17.5%, in which case 1.2121% loss for each 1% loss beyond 17.5%
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Initial levels: | 1,481.734 for index, $69.87 for ETF
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Buffer levels: | 1,222.428 for index, $57.64 for ETF, 82.5% of initial levels
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Pricing date: | Nov. 8
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Settlement date: | Nov. 13
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Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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Fees: | 3.05%
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Cusip: | 78013XAJ7
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