Published on 2/6/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $30.01 million market-linked step-up notes linked to basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 6 – Royal Bank of Canada priced $30.01 million of 0% market-linked step-up notes due March 25, 2021 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index and the Nikkei Stock Average index each with an initial weight of 20%, the Swiss Market index and the S&P/ASX 200 index each with an initial weight of 7.5% and the Hang Seng index with an initial weight of 5%.
If the basket finishes at or above the step-up level – 111.03% of the initial level – the payout at maturity will be par of $10 plus the gain.
If the basket gains by up to the step-up level, the payout will be par plus the step-up payment of 11.03%.
Investors will be exposed to any losses.
BofA Securities, Inc. is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Market-linked step-up notes
|
| Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 and Nikkei Stock (20% weight each), Swiss Market and S&P/ASX 200 (7.5% weight each) and Hang Seng (5% weight)
|
| Amount: | $30,007,985
|
| Maturity: | March 25, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the basket finishes at or above step-up level, par plus gain; if basket gains by up to step-up level, par plus 11.03%; otherwise, 1% loss per 1% decline
|
| Initial levels: | 3,690.78 for Euro Stoxx 50; 7,381.96 for FTSE 100; 22,977.75 for Nikkei 225; 10,748.92 for Swiss Market; 7,008.429 for S&P/ASX 200; 26,449.13 for Hang Seng
|
| Step-up value: | 111.03% of initial value
|
| Pricing date: | Jan. 30
|
| Settlement date: | Feb. 6
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 78014F247
|
|
|
© 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.
