Published on 11/4/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.56 million trigger jump notes linked to S&P MidCap 400
By Angela McDaniels
Tacoma, Wash., Nov. 4 – Royal Bank of Canada priced $4.56 million of 0% trigger jump securities due Nov. 4, 2021 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive or zero, the payout at maturity will be par of $10 plus the greater of the index return and 17.3%. The payout will be par if the index declines by 10% or less. If the index declines by more than 10%, investors will lose 1% for each 1% decline from the initial level.
RBC Capital Markets, LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | Royal Bank of Canada
|
| Issue: | Trigger jump securities
|
| Underlying index: | S&P MidCap 400
|
| Amount: | $4,558,900
|
| Maturity: | Nov. 4, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is positive or zero, par plus greater of index return and 17.3%; par if index’s final level is less than initial level but greater than or equal to trigger level; 1% loss for each 1% decline from initial level if final index level is less than trigger level
|
| Initial level: | 1,955.37
|
| Trigger level: | 1,759.83, or 90% of initial index level
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | RBC Capital Markets, LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 78014J579
|
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