Published on 10/7/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $6.47 million Accelerated Return Notes linked to pharma stocks
By Angela McDaniels
Tacoma, Wash., Oct. 7 – Royal Bank of Canada priced $6.47 million of 0% Accelerated Return Notes due Dec. 15, 2017 linked to a basket of pharmaceutical stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of AstraZeneca plc with a 33.33% weight, Eli Lilly and Co. with a 33.33% weight and Pfizer Inc. with a 33.34% weight.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 19.4%. Investors will be exposed to any basket decline.
BofA Merrill Lynch is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying stocks: | AstraZeneca plc with a 33.33% weight (NYSE: AZN), Eli Lilly and Co. with a 33.33% weight (NYSE: LLY) and Pfizer Inc. with a 33.34% weight (NYSE: PFE)
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Amount: | $6,468,650
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Maturity: | Dec. 15, 2017
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus 300% of any basket gain, capped at 19.4%; exposure to any basket decline
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Initial share prices: | $32.60 for AstraZeneca, $81.75 for Eli Lilly and $33.90 for Pfizer
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Pricing date: | Oct. 5
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Settlement date: | Oct. 12
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 78014F205
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