New Issue: RBC sells $1.77 million capped participation barrier notes on Hang Seng

By Sarah Lizee

Olympia, Wash., Sept. 24 – Royal Bank of Canada priced $1.77 million of capped participation barrier notes due Oct. 9, 2019 linked to the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum payment of $1,253.90 per $1,000 of notes.

If the index falls by up to 20%, the payout will be par.

If the index falls by more than 20%, investors will be fully exposed to the index’s decline.

RBC Capital Markets, LLC is the underwriter and JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.

Issuer:	Royal Bank of Canada
Issue:	Capped participation barrier notes
Underlying index:	Hang Seng China Enterprises index
Amount:	$1.77 million
Maturity:	Oct. 9, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus the index return, subject to a maximum payment of $1,253.90 per $1,000 of notes; if index falls by up to 20%, par; if index falls by more than 20%, full exposure to index’s decline
Initial index level:	11,027.13
Barrier level:	8,821.70, 80% of initial level
Pricing date:	Sept. 21
Settlement date:	Sept. 26
Agents:	RBC Capital Markets, LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
Fees:	1%
Cusip:	78013XG93

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