New Issue: RBC sells $320,000 barrier enhanced notes tied to Financial Select SPDR

By Susanna Moon

Chicago, Sept. 5 – Royal Bank of Canada priced $320,000 of 0% barrier enhanced return notes due Sept. 2, 2020 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any fund gain, up to maximum return of 18.5%.

Investors will receive par if the fund falls by up to 25% and will lose 1% for each 1% decline if the fund finishes below its 75% barrier level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier enhanced return notes
Underlying index:	Financial Select Sector SPDR Fund
Amount:	$320,000
Maturity:	Sept. 2, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any fund gain, capped at 18.5%; par if fund declines by up to 25%; otherwise, 1% loss per 1% drop
Initial level:	$28.59
Barrier level:	$21.44, 75% of initial level
Pricing date:	Aug. 28
Settlement date:	Aug. 31
Agent:	RBC Capital Markets, LLC
Fees:	3%
Cusip:	78013XSN9

© 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.