Published on 11/14/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2 million contingent coupon barrier autocallables on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 14 – Royal Bank of Canada priced $2 million of autocallable contingent coupon barrier notes due Nov. 7, 2019 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.2% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be automatically called at par if each index closes its initial price on any observation date beginning on May 2, 2019.
The payout at maturity will be par unless either index finishes below its 60% trigger price, in which case investors will be fully exposed to any losses of the least-performing index.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying indexes: | S&P 500 index and Russell 2000 index
|
| Amount: | $2 million
|
| Maturity: | Nov. 7, 2019
|
| Coupon: | 5.2%, payable quarterly if each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger price, in which case par plus return of the least-performing index
|
| Call: | Automatically at par if each index closes above initial price on any observation date after six months
|
| Initial prices: | 2,723.06 for S&P and 1,547.981 for Russell
|
| Coupon barriers: | 1,906.04 for S&P and 1,083.587 for Russell, 70% of initial prices
|
| Trigger prices: | 1,633.84 for S&P and 928.789 for Russell, 60% of initial prices
|
| Pricing date: | Nov. 2
|
| Settlement date: | Nov. 7
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 0.75%
|
|
|
| Cusip: | 78013XRL4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
