New Issue: RBC sells $3 million buffered enhanced return notes on index basket

By Kiku Steinfeld

Chicago, Oct. 22 – Royal Bank of Canada priced $3 million of buffered enhanced return notes due Sept. 1, 2022 linked to a basket of two indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the S&P 500 index with a 60% weight and the Russell 2000 index with a 40% weight.

If the basket return is positive, the payout at maturity will be par plus 150% of the basket gain, capped at 9.5%. Investors will receive par if the basket falls by up to 5% and lose 1% for every 1% decline beyond 5%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying basket:	S&P 500 index (60% weight) and Russell 2000 index (40% weight)
Amount:	$3 million
Maturity:	Sept. 1, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any basket gain, capped at 9.5%; par if the basket falls by up to 5%; 1% loss for every 1% basket decline beyond 5%
Initial level:	4,401.46 for S&P, 2,191.834 for Russell
Buffer level:	95% of initial component levels
Pricing date:	July 27
Settlement date:	July 30
Underwriter:	RBC Capital Markets, LLC
Fees:	1.1%
Cusip:	78016EQV2

© 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.