New Issue: RBC prices $13.04 million bullish barrier return notes linked to Apple

By Susanna Moon

Chicago, April 16 - Royal Bank of Canada priced $13.04 million of 0% bullish barrier enhanced return notes due April 16, 2015 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any gain in Apple stock, up to a maximum return of 53%.

Investors will receive par if the shares fall by 20% and will be fully exposed to any losses if the shares finish below the 80% barrier level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Bullish barrier enhanced return notes
Underlying stock:	Apple Inc. (Nasdaq: AAPL)
Amount:	$13,041,000
Maturity:	April 16, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any stock gain, capped at 53%; par if shares fall by 20%; full exposure to losses if index drops below barrier level
Initial level:	$429.80
Barrier level:	$343.84, 80% of initial level
Pricing date:	April
Settlement date:	April 17
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78008SJ56

© 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.