By Wendy Van Sickle
Columbus, Ohio, July 27 – Royal Bank of Canada priced $1.2 million of capped trigger gears due July 25, 2025 linked to the iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is greater than zero, the payout at maturity will be par of $10 plus five times the ETF return, subject to a maximum payout of par plus 43.75%.
Investors will receive par if the ETF declines by 30% or less and be fully exposed to the ETF’s decline from its initial level if it declines by more than 30%.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Capped trigger gears
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| Underlying ETF: | iShares Global Clean Energy ETF
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| Amount: | $1.2 million
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| Maturity: | July 25, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus five times any ETF gain, capped at par plus 43.75%; par if ETF declines by 30% or less; otherwise, full exposure to ETF decline from initial level
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| Initial level: | $19.50
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| Downside threshold: | $13.65; 70% of initial level
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| Pricing date: | July 22
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| Settlement date: | July 27
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 2.5%
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| Cusip: | 78016D364
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