New Issue: RBC Finance sells $1.03 million buffered digital return notes on indexes, ETF

By Wendy Van Sickle

Columbus, Ohio, Nov. 20 – Royal Bank of Canada priced $1.07 million of 0% buffered digital return notes due Dec. 19, 2024 linked to the Utilities Select Sector SPDR fund, S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Bank of America Corp.

The payout at maturity will be par plus 7.3% if the worst performer finishes at or above 70% of its initial level.

Otherwise, investors will lose 1% for every 1% that the worst performer declines beyond 30%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered digital return notes
Underlying assets:	Utilities Select Sector SPDR fund, S&P 500 index and Russell 2000 index
Amount:	$1,027,000
Maturity:	Dec. 19, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 7.3% if worst performer finishes at or above 70% of its initial level; otherwise, loss of 1% for every 1% that worst performer declines beyond 30%
Initial levels:	$61.98 for Utilities Select, 4,495.7 for S&P, 1,798.324 for Russell
Threshold level:	$43.39 for Utilities Select, 3,146.99 for S&P, 1,258.827 for Russell, 70% of initial levels
Pricing date:	Nov. 14
Settlement date:	Nov. 17
Agent:	RBC Capital Markets, LLC
Fees:	0.65%
Cusip:	78016N5X1

© 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.