Published on 10/4/2018 in the Prospect News Structured Products Daily.
New Issue: RBC prices $918,000 autocallable market-linked securities tied to Stoxx
By Sarah Lizee
Olympia, Wash., Oct. 4 – Royal Bank of Canada priced $918,000 of 0% market-linked securities – autocallable with fixed percentage buffered downside due Oct. 4, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 9% per year if the index closes at or above its initial level on any annual observation date.
If the final index falls by up to 10%, the payout will be par. Investors will lose 1% for each 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Market-linked securities – autocallable with fixed percentage buffered downside
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Underlying index: | Euro Stoxx 50
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Amount: | $918,000
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Maturity: | Oct. 4, 2021
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Coupon: | 0%
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Price: | Par
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Call: | At par plus a call premium of 9% per year if the index closes at or above initial level on any annual call date
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Payout at maturity: | If the final index falls by up to 10%, par; 1% loss for each 1% decline beyond 10%
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Initial level: | 3,399.20
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Buffer level: | 3,059.28, 90% of initial level
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Pricing date: | Sept. 28
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Settlement date: | Oct. 3
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.825%
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Cusip: | 78013XC71
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