New Issue: RBC prices $487,000 bullish barrier enhanced return notes on SPDR Dow

By Marisa Wong

Madison, Wis., April 30 - Royal Bank of Canada priced $487,000 of 0% bullish barrier enhanced return notes due April 28, 2016 linked to the SPDR Dow Jones Industrial Average exchange-traded fund trust, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.2 times any gain in the fund, up to a maximum return of 39.2%.

Investors will receive par if the fund falls by up to 25% and will be fully exposed to losses if the share price falls below the 75% barrier level.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Bullish barrier enhanced return notes
Underlying fund:	SPDR Dow Jones Industrial Average exchange-traded fund trust
Amount:	$487,000
Maturity:	April 28, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.2 times any fund gain, return capped at 39.2%; par if fund falls by up to 25%; full exposure to losses if share price falls below barrier level
Initial price:	$146.88
Barrier price:	$110.16, 75% of initial price
Pricing date:	April 26
Settlement date:	April 30
Agent:	RBC Capital Markets, LLC
Fees:	2.75%
Cusip:	78008SN44

© 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.