By Wendy Van Sickle
Columbus, Ohio, April 26 – Royal Bank of Canada priced $6.7 million of 0% trigger autocallable contingent yield notes due April 27, 2020 linked to the iShares Russell 2000 exchange-traded fund and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each ETF closes at or above its barrier, 70.9% of its initial level, on the observation date for that quarter.
The notes will be called at par if each ETF closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the final coupon unless either ETF finishes below the downside threshold level, 70.9% of the initial level, in which case investors will lose 1% for every 1% decline of the worse performing ETF.
RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETFs: iShares MSCI EAFE and iShares Russell 2000
|
| Amount: | $6,701,500
|
| Maturity: | April 27, 2020
|
| Coupon: | 7%, payable quarterly if each ETF closes at or above barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call: | At par if each ETF closes at or above its initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par plus final coupon unless either ETF finishes below downside threshold level, in which case 1% loss for every 1% decline of the worse performing ETF
|
| Initial levels: | $137.52 for Russell, $61.93 for EAFE
|
| Barrier/thresholds: | $97.50 for Russell, $43.91 for EAFE; 70.9% of initial levels
|
| Pricing date: | April 21
|
| Settlement date: | April 26
|
| Underwriters: | RBC Capital Markets, LLC and UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 78014E653
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
