New Issue: RBC sells $1.55 million five-year 0% buffered bullish notes on S&P 500

By Susanna Moon

Chicago, Oct. 27 - Royal Bank of Canada priced $1.55 million of 0% buffered bullish notes due Oct. 30, 2015 based on the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain, up to a maximum payout of 167% of par.

Investors will receive par if the index falls by 20% or less and will be exposed to any decline beyond 20%.

RBC Capital Markets Corp. is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish notes
Underlying index:	S&P 500
Amount:	$1,553,000
Maturity:	Oct. 30, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 67%; exposure to losses beyond 20%
Initial index level:	1,185.64
Buffer level:	948.51, 80% of initial level
Pricing date:	Oct. 26
Settlement date:	Oct. 29
Underwriter:	RBC Capital Markets Corp.
Fees:	3.375%
Cusip:	78008KMX8

© 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.