Published on 5/1/2015 in the Prospect News Structured Products Daily.
New Issue: RBC prices $5.46 million PLUS due 2016 linked to Russell 2000 index
By Toni Weeks
San Luis Obispo, Calif., May 1 – Royal Bank of Canada priced $5.46 million of 0% Performance Leveraged Upside Securities due Aug. 3, 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus three times any gain in the index, up to a maximum return of 15%.
Investors will be exposed to any losses.
RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | Royal Bank of Canada
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Issue: | Performance Leveraged Upside Securities
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Underlying index: | Russell 2000
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Amount: | $5,459,000
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Maturity: | Aug. 3, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 15%; exposure to any losses
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Initial level: | 1,220.125
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Pricing date: | April 30
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Settlement date: | May 5
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Agent: | RBC Capital Markets, LLC with Morgan Stanley Wealth Management handling distribution
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Fees: | 2.25%
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Cusip: | 780082749
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