By Sarah Lizee
Olympia, Wash., Sept. 20 – Royal Bank of Canada priced $2 million of 0% capped buffer notes due Sept. 3, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser performing index finishes greater than or equal to 138% of its initial level, the payout will be par plus 75.4%.
If the lesser performing index finishes above 98% of its initial level but less than 138% of its initial level, the payout will be par plus the return of the lesser performing index plus 2% multiplied by 1.7925, plus 3.7% of the principal amount.
If the lesser performing index finishes below 98% of its initial level, but is not less than 88% of its initial level, the payout will be par plus the return of the lesser performing index plus 12% times 0.37.
Otherwise, investors will be exposed to any decline of the lesser performing index beyond 12%.
RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Capped buffer notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $2 million
|
| Maturity: | Sept. 3, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the lesser performing index finishes greater than or equal to 138% of its initial level, par plus 75.4%; if the lesser performing index finishes above 98% of its initial level but less than 138% of its initial level, par plus the return of the lesser performing index plus 2% multiplied by 1.7925, plus 3.7% of the principal amount; if the lesser performing index finishes below 98% of its initial level, but is not less than 88% of its initial level, par plus the return of the lesser performing index plus 12% times 0.37; otherwise, investors will be exposed to any decline of the lesser performing index beyond 12%
|
| Initial levels: | The initial levels will be the average of the closing levels during the period from Sept. 16 to Dec. 12
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 23
|
| Agents: | RBC Capital Markets, LLC and UBS Financial Services Inc.
|
| Fees: | 0.75%
|
| Cusip: | 78015KFW9
|
© 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.
