RBC to price buffered enhanced return notes on iShares MSCI EM ETF

By Marisa Wong

Morgantown, W.Va., Aug. 25 – Royal Bank of Canada plans to price 0% buffered enhanced return notes due Sept. 3, 2019 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the final ETF level is greater than the initial ETF level, the payout at maturity will be par of $1,000 plus 150% of the ETF return, subject to a maximum payout of par plus 15%.

Investors will receive par if the ETF declines by up to the buffer percentage, expected to be between 19.6% and 21.25% and to be set at pricing, and will lose 1% for every 1% decline beyond the buffer.

RBC Capital Markets, LLC is the agent.

The notes will price on Aug. 28.

The Cusip number is 78012K4X2.

© 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.