Published on 2/3/2014 in the Prospect News Structured Products Daily.
New Issue: RBC brings $5.23 million market-linked securities tied to iShares Russell 2000 fund
By Jennifer Chiou
New York, Feb. 3 - Royal Bank of Canada priced $5,225,000 of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 6, 2017 linked to the iShares Russell 2000 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 150% of the ETF return, subject to a maximum return of 30.5%.
Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Wells Fargo Securities LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Market-linked securities
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Underlying ETF: | iShares Russell 2000
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Amount: | $5,225,000
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Maturity: | Feb. 6, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any fund gain, capped at 30.5%; par for losses up to 10% and exposure to losses beyond buffer
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Initial share price: | $112.93
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Buffer price: | $101.64, 90% of initial share price
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Pricing date: | Jan. 30
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Settlement date: | Feb. 4
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.5%
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Cusip: | 78010UNR4
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