By Susanna Moon
Chicago, July 7 – Royal Bank of Canada priced $5 million of 0% averaging notes due Sept. 30, 2016 linked 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 27% of any gain in the index.
If the index falls, the payout will be par.
The final index level will be the arithmetic average of the closing level of the index on each of the quarterly valuation dates.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Averaging notes
|
| Underlying index: | Euro Stoxx 50 index
|
| Amount: | $5 million
|
| Maturity: | Sept. 30, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 27% of index return, floor of par
|
| Initial level: | 3,252.25
|
| Final index level: | Average of index closing levels on each quarterly valuation date
|
| Pricing date: | July 2
|
| Settlement date: | July 8
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 0.25%
|
| Cusip: | 78010UK48
|
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