New Issue: RBC prices $1.3 million buffered absolute return notes linked to index basket

By Wendy Van Sickle

Columbus, Ohio, Jan. 2 – Royal Bank of Canada priced $1.3 million of 0% buffered absolute return notes due June 26, 2025 linked to an equally weighted basket of indexes consisting of the S&P 500 index, the Euro Stoxx 50 index and the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the basket finishes at or above its initial level, the payout will be par plus the return of the basket.

If the basket finishes flat or falls by up to 10%, the payout will be par plus the absolute value of the return.

Otherwise, investors will lose 1% for every 1% decline of the basket beyond the buffer.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered absolute return notes
Underlying basket:	S&P 500 index, Euro Stoxx 50 index, FTSE 100 index; equal weights
Amount:	$1.3 million
Maturity:	June 26, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the basket finishes at or above its initial level, par plus the return of the basket; if the basket finishes flat or falls by up to buffer level, par plus the absolute value of the return of the basket; otherwise, 1% loss for every 1% decline of the basket beyond 10%
Initial levels:	4,746.75 for S&P, 4,524.86 for Stoxx, 7,694.73 for FTSE
Buffer level:	90% of initial level
Pricing date:	Dec. 21
Settlement date:	Dec. 27
Underwriter:	RBC Capital Markets, LLC
Fees:	1.25%
Cusip:	78017F6S7

© 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.