New Issue: RBC prices $1.31 million jump securities linked to Financial Select Sector SPDR

By Angela McDaniels

Tacoma, Wash., April 22 – Royal Bank of Canada priced $1.31 million of 0% jump securities due May 27, 2016 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the final share price is greater than or equal to the initial share price, the payout at maturity will be par of $10 plus 10%. If the final share price is less than the initial share price, investors will have one-to-one exposure to the decline.

RBC Capital Markets, LLC is the agent. Distribution is through Morgan Stanley Wealth Management.

Issuer:	Royal Bank of Canada
Issue:	Jump securities
Underlying fund:	Financial Select Sector SPDR Fund
Amount:	$1,305,000
Maturity:	May 27, 2016
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If final share price is greater than or equal to initial share price, par plus 10%; if final share price is less than initial share price, full exposure to decline
Initial share price:	$24.23
Pricing date:	April 20
Settlement date:	April 23
Agent:	RBC Capital Markets, LLC
Distribution:	Morgan Stanley Wealth Management
Fees:	1.75%
Cusip:	780082772

© 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.