Published on 6/5/2019 in the Prospect News Structured Products Daily.
New Issue: RBC sells $500,000 barrier enhanced return notes tied to two SPDR funds
By Wendy Van Sickle
Columbus, Ohio, June 5 – Royal Bank of Canada priced $500,000 of 0% barrier enhanced return notes due June 3, 2021 linked to the lesser performing of the SPDR S&P Biotech exchange traded fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If each fund finishes at or above its initial level, the payout at maturity will be par plus 154% of the gain of the worse performing fund.
Investors will receive par if each fund falls by no more than 35% and will be fully exposed to the losses of the worse performing fund if it finishes below the 65% barrier.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier enhanced return notes
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Underlying funds: | SPDR S&P Biotech ETF, Technology Select Sector SPDR fund
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Amount: | $500,000
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Maturity: | June 3, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each fund gains, par plus 154% of return of worse performing fund; par if each fund falls by no more than 35%; otherwise, full expose to losses of worse performing fund if it falls by more than 35%
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Initial levels: | $81.27 for biotech fund, $72.166 for technology fund
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Barrier levels: | $52.83 for biotech fund, $47.23 for technology fund, 65% of initial levels
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Pricing date: | May 29
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Settlement date: | May 31
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.25%
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Cusip: | 78013GGZ2
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