Published on 2/10/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $20.24 million trigger step securities tied to basket of five indexes
By William Gullotti
Buffalo, N.Y., Feb. 10 – Royal Bank of Canada priced $20.24 million of 0% trigger step securities due Jan. 21, 2027 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of 44% and the basket return.
Investors will receive par if the basket declines by 25% or less and will lose 1% for each 1% decline from its initial level if the basket falls more than 25%.
RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Trigger step securities
|
| Underlying index: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
|
| Amount: | $20,241,170
|
| Maturity: | Jan. 21, 2027
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is zero or positive, par plus greater of 44% and basket return; par if basket declines by up to 25%; 1% loss for each 1% decline if basket falls beyond 25%
|
| Initial levels: | 4,302.14 for Stoxx, 28,333.52 for Nikkei, 7,611.23 for FTSE, 12,633.21 for Swiss, 7,417.305 for S&P/ASX
|
| Downside threshold: | 75% of initial level
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 20
|
| Agents: | RBC Capital Markets, LLC and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 78016C309
|
|
|
© 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.
