New Issue: RBC prices $4 million absolute return barrier notes linked to S&P 500

By Toni Weeks

San Diego, June 12 - Royal Bank of Canada priced $4 million of 0% absolute return barrier notes due June 12, 2014 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.

Investors will share in any index gains, subject to a maximum return of 23.5%.

If the index finishes above 76.5% of the initial level and below the initial level, the payout at maturity will be par plus the absolute value of the index decline.

If the index finishes below the barrier level, investors will share in losses.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Absolute return barrier notes
Underlying index:	S&P 500
Amount:	$4 million
Maturity:	June 12, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than initial index level, par plus index return, subject to maximum return of 23.5%; if index finishes above 76.5% of initial level and below initial level, par plus absolute value of index decline; full exposure to losses if index finishes below barrier level
Barrier event:	Index closes below barrier level during life of notes
Initial index level:	1,325.66
Barrier level:	1,014.13, 76.5% of initial index level
Pricing date:	June 8
Settlement date:	June 13
Underwriter:	RBC Capital Markets, LLC
Fees:	2%, used for selling concessions
Cusip:	78008SBD7

© 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.