New York, Jan. 24 - Royal Bank of Canada priced $35,212,030 of contingent income autocallable securities due Jan. 27, 2014 linked to Las Vegas Sands Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Las Vegas Sands stock closes at or above the downside threshold level of $37.492 on a quarterly determination date, the notes will pay a contingent payment of 3% for that quarter.
If Las Vegas Sands stock closes at or above its initial price on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
If the Las Vegas Sands stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The agent is RBC Capital Markets, LLC with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | Royal Bank of Canada
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Las Vegas Sands Corp.
|
| Amount: | $35,212,030
|
| Maturity: | Jan. 27, 2014
|
| Contingent payment: | 3% for quarter if Las Vegas Sands stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if Las Vegas Sands stock finishes at or above downside threshold; otherwise full exposure to any losses
|
| Call: | At par plus contingent payment if Las Vegas Sands stock closes at or above initial share price on any determination date
|
| Initial share price: | $53.56
|
| Trigger level: | $37.492, 70% of initial price
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 25
|
| Agents: | RBC Capital Markets, LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 1.5%
|
| Cusip: | 78008W792
|
© 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.
