New Issue: RBC sells $425,000 buffered enhanced return notes on iShares EM

By Marisa Wong

Morgantown, W.Va., April 10 – Royal Bank of Canada priced $425,000 of 0% buffered enhanced return notes due March 29, 2019 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any gain in the fund, subject to a maximum return of 15%.

Investors will receive par if the fund falls by up to 26.25% and will lose 1% for each 1% decline beyond 26.25%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying fund:	iShares MSCI Emerging Markets ETF
Amount:	$425,000
Maturity:	March 29, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any fund gain, return capped at 15%; par if fund falls by 26.25% or less; 1% loss per 1% decline beyond 26.25%
Initial price:	$39.81
Buffer level:	$29.36, 73.75% of initial price
Pricing date:	March 28
Settlement date:	March 31
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78012KE45

© 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.