Published on 5/11/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2 million 6.2% barrier notes tied to 10-year U.S. dollar ICE Swap rate
By Wendy Van Sickle
Columbus, Ohio, May 11 – Royal Bank of Canada priced $2 million of 6.2% barrier notes due Feb. 17, 2017 linked to the 10-year U.S. dollar ICE Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the final reference rate is less than 1.175%, in which case investors will be fully exposed to the difference.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier notes
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Underlying rate: | 10-year U.S. dollar ICE Swap rate
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Amount: | $2 million
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Maturity: | Feb. 17, 2017
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Coupon: | 6.2%, payable monthly
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Price: | Varying
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Payout at maturity: | Par unless the final reference rate is less than 1.175%, in which full exposure to the difference
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Pricing date: | May 10
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Settlement date: | May 17
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Underwriter: | RBC Capital Markets, LLC
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Fees: | Varying
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Cusip: | 78012KMV6
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