Published on 8/8/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.18 million geared buffered enhanced return notes linked to Russell
By Sarah Lizee
Olympia, Wash., Aug. 8 – Royal Bank of Canada priced $1.18 million of 0% geared buffered enhanced return notes due Feb. 7, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum redemption amount of $1,245 per $1,000 principal amount of notes. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that the index may decline beyond 20%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Geared buffered enhanced return notes
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Underlying index: | Russell 2000
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Amount: | $1,175,000
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Maturity: | Feb. 7, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 150% of index return, up to maximum return of 24.5%; par if index declines by 20% or less; 1.25% loss for every 1% that index may decline beyond 20%
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Initial index level: | 1,533.659
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Pricing date: | Aug. 2
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Settlement date: | Aug. 7
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Underwriter: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78013XYE2
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