Published on 10/1/2020 in the Prospect News Structured Products Daily.
New Issue: RBC sells $7 million capped buffered return enhanced notes on S&P 500
By Kiku Steinfeld
Chicago, Oct. 1 – Royal Bank of Canada priced $7 million of capped buffered return enhanced notes due Oct. 12, 2021 linked to the S&P 500 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 1.2 times the index gain, capped at par plus 10.2%.
If the index declines by up to 15%, the payout will be par. Investors will lose 1.1765% for each 1% decline beyond 15%.
RBC Capital Markets, LLC is the agent with J.P. Morgan Securities LLC acting as the placement agent.
Issuer: | Royal Bank of Canada
|
Issue: | Capped buffered return enhanced notes
|
Underlying index: | S&P 500
|
Amount: | $7 million
|
Maturity: | Oct. 12, 2021
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If the index return is positive, the payout at maturity will be par plus 1.2 times the index gain, capped at par plus 10.2%; if the index declines by up to 15%, the payout will be par; investors will lose 1.1765% for each 1% decline beyond 15%
|
Initial level: | 3,236.92
|
Buffer level: | 2,751.38, 85% of initial level
|
Pricing date: | Sept. 24
|
Settlement date: | Sept. 29
|
Agent: | RBC Capital Markets, LLC with J.P. Morgan Securities LLC as placement agent
|
Fees: | 1%
|
Cusip: | 78016EAT4
|
© 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.