Published on 2/1/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.09 million capped gears on iShares MSCI Emerging Markets
By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – Royal Bank of Canada priced $3.09 million of 0% capped gears due March 29, 2018 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any ETF gain, up to a maximum return of 17.55%.
Investors will be fully exposed to any ETF decline.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Capped gears
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Underlying ETF: | iShares MSCI Emerging Markets
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Amount: | $3,086,000
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Maturity: | March 29, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 3 times any ETF gain, capped at 17.55%; full exposure to any losses
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Initial level: | $37.44
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 78014E265
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