Published on 6/8/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.5 million dual directional trigger PLUS linked to Facebook
By Sarah Lizee
Olympia, Wash., June 8 – Royal Bank of Canada priced $2.5 million of 0% dual directional trigger Performance Leveraged Upside Securities due June 3, 2022 linked to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Facebook shares finish at or above the initial level, the payout at maturity will be par of $10 plus 1.5 times the stock return, up to a maximum payout of par plus 35.4%.
If the stock falls by up to the 80% trigger level, the payout will be par plus the absolute value of the stock return.
Otherwise, investors will lose 1% for each 1% decline of the stock from its initial level.
RBC Capital Markets, LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
Issuer: | Royal Bank of Canada
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Issue: | Dual directional Trigger Performance Leveraged Upside Securities
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Underlying stock: | Facebook, Inc. (Symbol: FB)
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Amount: | $2,498,500
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Maturity: | June 3, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If stock gains, par plus 150% of return, up to 35.4% maximum return; if stock falls by up to trigger level, par plus absolute value of return; otherwise, 1% loss for each 1% decline of stock from initial level
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Initial level: | $225.09
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Trigger level: | $180.07, 80% of initial level
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Pricing date: | May 29
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Settlement date: | June 3
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Agents: | RBC Capital Markets, LLC
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Fees: | 2.5%
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Cusip: | 78014K741
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