Published on 6/9/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $5 million 10.25% fixed coupon notes on 20+ Year Treasury Bond ETF
By Wendy Van Sickle
Columbus, Ohio, June 9 – Royal Bank of Canada priced $5 million of 10.25% fixed coupon notes due June 18, 2024 tied to the iShares 20+ Year Treasury Bond ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the ETF finishes below its initial price, in which case investors will receive 99.72 ETF shares per $10,000 principal amount.
RBC Capital Markets, LLC is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
Issuer: | Royal Bank of Canada
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Issue: | Fixed coupon notes
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Underlying ETF: | iShares 20+ Year Treasury Bond ETF
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Amount: | $5 million
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Maturity: | June 18, 2024
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Coupon: | 10.25% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par unless ETF finishes below initial price, in which case 99.72 ETF shares per $10,000 principal amount
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Initial price: | $100.28
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Pricing date: | June 1
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Settlement date: | June 6
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Agent: | RBC Capital Markets, LLC
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Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 78015QEX5
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