Published on 7/8/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $8.59 million PLUS on basket of two indexes, five funds
By Sarah Lizee
Olympia, Wash., July 8 – Royal Bank of Canada priced $8.59 million of 0% Performance Leveraged Upside Securities due Dec. 30, 2019 linked to a basket made up of two indexes and five exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Russell 3000 Value index with a 25% weight, the VanEck Vectors Gold Miners exchange-traded fund, the Euro Stoxx Banks index and the iShares MSCI Emerging Markets ETF, each with a 15% weight, and the SPDR S&P Oil & Gas Exploration & Production ETF, the iShares Nasdaq Biotechnology ETF and the Materials Select Sector SPDR fund, each with a 10% weight.
The payout at maturity will be par of $10 plus 200% of any basket gain, subject to a maximum payment of $10.61 per PLUS.
Investors will be fully exposed to any basket decline.
RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Royal Bank of Canada
|
| Issue: | Performance Leveraged Upside Securities
|
| Underlying assets: | Russell 3000 Value index with a 25% weight, the VanEck Vectors Gold Miners exchange-traded fund, the Euro Stoxx Banks index and the iShares MSCI Emerging Markets ETF, each with a 15% weight, and the SPDR S&P Oil & Gas Exploration & Production ETF, the iShares Nasdaq Biotechnology ETF and the Materials Select Sector SPDR fund, each with a 10% weight.
|
| Amount: | $8,592,900
|
| Maturity: | Dec. 30, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any basket gain, subject to $10.61 maximum payment per PLUS; 1% loss per 1% decline
|
| Initial levels: | 1,648.981 for Russell, $25.56 for gold ETF, 88.14 for Stoxx, $42.91 for EM ETF, $27.25 for oil ETF, $109.10 for biotech ETF, $58.50 for materials ETF
|
| Pricing date: | June 28
|
| Settlement date: | July 3
|
| Agent: | RBC Capital Markets, LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 78014J157
|
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