Published on 4/16/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $468,000 absolute return buffered notes on EAFE ETF, Stoxx 50
By Marisa Wong
Morgantown, W.Va., April 16 – Royal Bank of Canada priced $468,000 of 0% absolute return buffered enhanced return notes due Sept. 30, 2022 linked to the worse performing of the iShares MSCI EAFE exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying finishes at or above its initial level, the payout at maturity will be par plus 219% of the return of the lesser performing underlying.
If the lesser performing underlying falls by up to 20%, the payout will be par plus the absolute value of the return of the lesser performing underlying.
If the lesser performing underlying falls by more than 20%, investors will lose 1% for every 1% decline of the lesser performing underlying beyond 20%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Absolute return buffered enhanced return notes
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Underlyings: | iShares MSCI EAFE ETF, Euro Stoxx 50 index
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Amount: | $468,000
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Maturity: | Sept. 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 219% of any gain in lesser performing underlying; par plus absolute value of return of lesser performing underlying if it falls by up to 20%; otherwise, 1% loss per 1% decline of worse performing underlying beyond 20%
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Initial levels: | $68.65 for ETF, 3,316.95 for index
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Buffer levels: | $54.92 for ETF, 2,653.56 for index; 80% of initial level
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Pricing date: | March 27
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Settlement date: | March 29
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 3%
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Cusip: | 78013XHC5
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