Published on 10/28/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3 million buffered enhanced return notes tied to Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Oct. 28 – Royal Bank of Canada priced $3 million of 0% buffered enhanced return notes due April 29, 2025 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 160% of the index return. Investors will receive par if the index declines by 30% or less and will lose 1% for every 1% that the index declines beyond 30%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying index: | Euro Stoxx 50
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Amount: | $3 million
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Maturity: | April 29, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 160% of index return; par if index declines by 30% or less; 1% loss for every 1% that index declines beyond 30%
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Initial level: | 3,621.37
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Buffer level: | 2,534.96, or 70% of initial level
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Pricing date: | Oct. 24
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Settlement date: | Oct. 29
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 2.75%
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Cusip: | 78015KBL7
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