Published on 6/2/2014 in the Prospect News Structured Products Daily.
New Issue: RBC sells $43.14 million leveraged return notes linked to Euro Stoxx 50
By Susanna Moon
Chicago, June 2 - Royal Bank of Canada priced $43.14 million of 0% Leveraged Index Return Notes due May 31, 2019 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 152.5% of any index gain.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
BofA Merrill Lynch is the underwriter.
Issuer: | Royal Bank of Canada
|
Issue: | Leveraged Index Return Notes
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Underlying index: | Euro Stoxx 50
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Amount: | $43,138,360
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Maturity: | May 31, 2019
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | Par plus 152.5% of any index gain; par if index falls by up to 20%; 1% loss for every 1% drop beyond 20%
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Initial index level: | 3,244.66
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Pricing date: | May 29
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Settlement date: | June 5
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Underwriter: | BofA Merrill Lynch
|
Fees: | 2.5%
|
Cusip: | 78011X506
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