Published on 3/12/2020 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.77 million buffered return enhanced notes on Stoxx
By Sarah Lizee
Olympia, Wash., March 12 – Royal Bank of Canada priced $2.77 million of 0% buffered return enhanced notes due March 6, 2025 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial value, the payout at maturity will be par plus 2.05 times any gain.
If the index declines by up to 25%, the payout will be par. Investors will lose 1.3333% for every 1% decline beyond the buffer.
The agent is RBC Capital Markets, LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
Issuer: | Royal Bank of Canada
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Issue: | Buffered return enhanced notes
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Underlying index: | Euro Stoxx 50
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Amount: | $2,767,000
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Maturity: | March 6, 2025
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 2.05 times any index gain; par if index declines by up to 25%; 1.3333% loss for every 1% decline beyond 25%
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Initial value: | 3,329.49
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Buffer level: | 2,497.12, 75% of initial level
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Pricing date: | Feb. 28
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Settlement date: | March 4
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Agent: | RBC Capital Markets, LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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Fees: | 3%
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Cusip: | 78015KJL9
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