By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – Royal Bank of Canada priced $2.44 million of 0% trigger performance securities due Dec. 31, 2020 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par of $10 plus 145% of the fund return.
If the fund return is zero or negative and the fund’s final share price is greater than or equal to the trigger price, 75% of the initial share price, the payout will be par.
If the final share price is less than the trigger price, investors will be fully exposed to the decline in the fund from its initial share price.
RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Trigger performance securities
|
| Underlying fund: | Vanguard FTSE Emerging Markets ETF
|
| Amount: | $2,443,950
|
| Maturity: | Dec. 31, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 145% of any fund gain; par if fund falls by up to 25%; full exposure to any losses if fund falls by more than 25%
|
| Initial price: | $33.18
|
| Trigger level: | $24.89, 75% of initial price
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 31
|
| Agents: | RBC Capital Markets, LLC and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 78013C302
|
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