Published on 11/13/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $7.34 million buffered digital notes linked to real estate ETF
By Wendy Van Sickle
Columbus, Ohio, Nov. 13 – Royal Bank of Canada priced $7.34 million of 0% buffered digital notes due Jan. 12, 2021 linked to the iShares U.S. Real Estate exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is greater than or equal to 0%, the payout will be par plus the greater of the ETF return and 30.45%. If the ETF falls by up to 10%, the payout will be par. Otherwise, investors will lose 1.1111% for every 1% that the ETF declines beyond 10%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered digital notes
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Underlying ETF: | iShares U.S. Real Estate ETF
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Amount: | $7,338,000
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Maturity: | Jan. 12, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is greater than or equal to 0%, par plus greater of ETF return and 30.45%; if ETF falls by up to 10%, par; otherwise, 1.1111% loss for every 1% that ETF declines beyond 10%
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Initial share price: | $81.94
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Pricing date: | Nov. 7
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Settlement date: | Nov. 14
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 2.6%
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Cusip: | 78013GKZ7
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