New Issue: RBC prices $905,000 airbag performance securities on Vanguard FTSE EM

By Toni Weeks

San Luis Obispo, Calif., March 30 – Royal Bank of Canada priced $905,000 of 0% airbag performance securities due March 31, 2020 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 117% of any fund gain.

If the fund falls by up to 25%, the payout will be par. If the fund falls by more than 25%, investors will receive a number of shares equal to $1,000 divided by the conversion price, which is 75% of the initial price.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Airbag performance securities
Underlying ETF:	Vanguard FTSE Emerging Markets ETF
Amount:	$905,000
Maturity:	March 31, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 117% of any fund gain; par if fund falls by up to 25%; if fund falls below conversion price, 33.3444 fund shares per $1,000 of notes
Initial share price:	$39.99
Conversion price:	$29.99, 75% of initial price
Pricing date:	March 26
Settlement date:	March 31
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	None
Cusip:	780082681

© 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.