New Issue: RBC prices $1 million buffered enhanced return notes on Chevron

By Sarah Lizee

Olympia, Wash., April 8 – Royal Bank of Canada priced $1 million of 0% buffered enhanced return notes due March 30, 2023 linked to the Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.

If the stock return is positive, the payout at maturity will be par plus 125% of the stock return. Investors will receive par if the stock declines by 10% or less and will lose 1% for every 1% that the stock declines beyond 10%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying stock:	Chevron Corp.
Amount:	$1 million
Maturity:	March 30, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If stock return is positive, par plus 125% of stock return; par if stock declines by buffer level or less; 1% loss for every 1% that stock declines beyond buffer
Initial level:	$68.78
Buffer level:	$61.90, or 90% of initial level
Pricing date:	March 27
Settlement date:	March 31
Underwriter:	RBC Capital Markets, LLC
Fees:	2.75%
Cusip:	78013GVE2

© 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.