Published on 2/1/2018 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2 million contingent barrier enhanced notes on tech stocks
By Susanna Moon
Chicago, Feb. 1 – Royal Bank of Canada priced $2 million of contingent barrier enhanced notes due Feb. 8, 2019 linked to the lesser performing of the common stocks of Amazon.com, Inc. and Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock finishes at or above its 80% threshold, the payout at maturity will be par plus the contingent digital return of 19%.
Otherwise, investors will be fully exposed to any losses of the worse performing stock.
RBC Capital Markets, LLC is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
Issuer: | Royal Bank of Canada
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Issue: | Contingent barrier enhanced notes
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Underlying stocks: | Amazon.com, Inc. (Symbol: AMZN), Alibaba Group Holding Ltd. (Symbol: BABA)
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Amount: | $2 million
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Maturity: | Feb. 8, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each stock finishes at or above 80% threshold, par plus 19%; otherwise, full exposure to any losses of worse performing stock
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Initial levels: | $1,362.54 for Amazon, $192.28 for Alibaba
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Trigger levels: | $1,090.03 for Amazon, $153.82 for Alibaba, 80% of initial levels
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Pricing date: | Jan. 23
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Settlement date: | Jan. 26
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Agents: | RBC Capital Markets, LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 78013GFN0
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