Published on 2/28/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $5.82 million notes tied to Raymond James top picks in technology
By Sarah Lizee
Olympia, Wash., Feb. 28 – Royal Bank of Canada priced $5.82 million of 0% notes linked to Raymond James top selections in technology due Aug. 26, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to an equally-weighted basket of 20 common stocks in the technology sector selected by Raymond James & Associates, Inc. The reference shares are Analog Devices, Inc., Amazon.com, Inc., Aptiv plc, Arrow Electronics Inc., salesforce.com, inc., Cisco Systems, Inc., Cubic Corp., Dell Technologies Inc., Fortinet, Inc., Microsoft Corp., Netflix, Inc., Pure Storage, Inc., Qualcomm Inc., Rapid7, Inc., EchoStar Corp., Synnex Corp., Skyworks Solutions, Inc., AT&T Inc., Veeva Systems Inc. and VMWare, Inc.
The payout at maturity will be par of $1,000 times 97.35% times the basket level percentage. Because of the 97.35% participation rate, investors will receive less than par if the basket does not gain by at least 2.73%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Notes linked to Raymond James top selections in technology
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| Underlying stocks: | Analog Devices, Inc., Amazon.com, Inc., Aptiv plc, Arrow Electronics Inc., salesforce.com, inc., Cisco Systems, Inc., Cubic Corp., Dell Technologies Inc., Fortinet, Inc., Microsoft Corp., Netflix, Inc., Pure Storage, Inc., Qualcomm Inc., Rapid7, Inc., EchoStar Corp., Synnex Corp., Skyworks Solutions, Inc., AT&T Inc., Veeva Systems Inc. and VMWare, Inc.; equally weighted
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| Amount: | $5,824,000
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| Maturity: | Aug. 26, 2021
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | Par times 97.35% times the basket level percentage; because of 97.35% participation rate, investors will receive less than par if the basket does not gain by at least 2.73%
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| Initial share prices: | $122.76 for Analog, $2,095.97 for Amazon, $90.07 for Aptiv, $77.99 for Arrow, $189.50 for salesforce, $46.295 for Cisco, $62.44 for Cubic, $51.72 for Dell, $114.48 for Fortinet, $178.59 for Microsoft, $380.07 for Netflix, $17.88 for Pure, $87.03 for Qualcomm, $52.99 for Rapid7, $39.08 for EchoStar, $141.75 for Synnex, $114.63 for Skyworks, $38.55 for AT&T, $159.82 for Veeva, $159.87 for VMWare
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 26
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 1.5%
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| Cusip: | 78013GUU7
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