By Angela McDaniels
Tacoma, Wash., Nov. 5 – Royal Bank of Canada priced $535,000 of 0% contingent absolute return autocallable optimization securities due Nov. 4, 2016 linked to the common stock of Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 11% if Charles Schwab stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the trigger price, 80% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock decline.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Contingent absolute return autocallable optimization securities
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Underlying stock: | Charles Schwab Corp. (Symbol: SCHW)
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Amount: | $535,000
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Maturity: | Nov. 4, 2016
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to stock decline
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Call: | At par plus 11% per year if Charles Schwab stock closes at or above initial share price on any quarterly observation date
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Initial share price: | $30.94
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Trigger price: | $24.75, 80% of initial share price
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Pricing date: | Oct. 28
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Settlement date: | Oct. 30
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Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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Fees: | 1.5%
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Cusip: | 78013C146
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