Published on 5/1/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $8.89 million Accelerated Return Notes on basket of financial stocks
By Sarah Lizee
Olympia, Wash., May 1 – Royal Bank of Canada priced $8.89 million of 0% Accelerated Return Notes due June 26, 2020 linked to a basket of financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Citigroup Inc. with a 33.33% weight, KeyCorp with a 33.33% weight and Wells Fargo & Co. with a 33.33% weight.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 24.45%. Investors will be exposed to any basket decline.
BofA Merrill Lynch is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying stocks: | Citigroup Inc. (Symbol: C) with a 33.33% weight, Keycorp (Symbol: KEY) with a 33.34% weight and Wells Fargo & Co. (Symbol: WFC) with a 33.33% weight
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Amount: | $8,887,920
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Maturity: | June 26, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, capped at 24.45%; exposure to any basket decline
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Initial share prices: | $68.73 for Citigroup, $17.14 for KeyCorp and $47.51 for Wells
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Pricing date: | April 25
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Settlement date: | May 2
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 78014F544
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