New Issue: RBC prices $34.29 million leveraged buffered notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., July 20 – Royal Bank of Canada priced $34.29 million of leveraged buffered notes due Sept. 21, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 160% of any index gain up to a maximum settlement amount of $1,275.20 for each $1,000 note.

Investors will receive par if the index falls by up to 12.5% and will lose 1.1429% for every 1% that the index falls below 12.5%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Leveraged buffered notes
Underlying index:	S&P 500
Amount:	$34,289,000
Maturity:	Sept. 21, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 160% of gain, subject to maximum settlement of $1,275.20 per $1,000 note; par if index falls by up to 12.5%; 1.1429% loss for every 1% decline in index beyond 12.5%
Initial index level:	2,166.89
Pricing date:	July 18
Settlement date:	July 25
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78012KQQ3

© 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.