By Marisa Wong
Madison, Wis., July 3 – Royal Bank of Canada priced $965,000 of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 3, 2018 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Wells Fargo Securities LLC is the agent.
If the fund return is positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum payout of $1,380 per $1,000 principal amount.
Investors will receive par if the fund decreases by up to 10% and will lose 1% for every 1% drop beyond the 10% buffer.
| Issuer: | Royal Bank of Canada
|
| Issue: | Market-linked securities
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| Underlying ETF: | iShares MSCI EAFE
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| Amount: | $965,000
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| Maturity: | Jan. 3, 2018
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 150% of any fund gain, capped at 38%; par for losses up to 10%; 1% loss for every 1% decline beyond buffer price
|
| Initial share price: | $68.37
|
| Buffer price: | $61.53, 90% of initial share price
|
| Pricing date: | June 30
|
| Settlement date: | July 3
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.4%
|
| Cusip: | 78010UC70
|
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