Published on 3/4/2015 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.33 million PLUS tied to basket of five Asia-related ETFs
By Marisa Wong
Madison, Wis., March 4 – Royal Bank of Canada priced $3.33 million of 0% Performance Leveraged Upside Securities due June 2, 2016 linked to a basket of exchange-traded funds, according to an FWP filing with the Securities and Exchange Commission.
The basket includes equal weights of the WisdomTree India Earnings Fund, the iShares MSCI Malaysia ETF, the iShares MSCI Taiwan ETF, the iShares MSCI South Korea Capped ETF and the iShares China Large-Cap ETF.
If the basket return is positive, the payout at maturity will be par of $10 plus 300% of the basket return, subject to a maximum return of 16.5%.
If the basket return is negative, investors will have one-to-one exposure to the decline.
RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Royal Bank of Canada
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| Issue: | Performance Leveraged Upside Securities
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| Underlying ETFs: | WisdomTree India Earnings Fund, iShares MSCI Malaysia ETF, iShares MSCI Taiwan ETF, iShares MSCI South Korea Capped ETF and iShares China Large-Cap ETF; equally weighted
|
| Amount: | $3,327,100
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| Maturity: | June 2, 2016
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus 300% of basket return, return capped at 16.5%; if basket return is negative, one-to-one exposure to decline
|
| Initial prices: | $24.19 for WisdomTree India, $13.57 for iShares Malaysia, $15.99 for iShares Taiwan, $56.63 for iShares South Korea, $43.76 for iShares China
|
| Pricing date: | Feb. 27
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| Settlement date: | March 4
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| Agent: | RBC Capital Markets, LLC with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 2.25%
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| Cusip: | 780082384
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