Published on 1/21/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.55 million barrier enhanced return notes linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., Jan. 21 – Royal Bank of Canada price $3.55 million of 0% barrier enhanced return notes due Jan. 22, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 107% of any gain of the lesser performing index.
Investors will receive par if the lesser performing index falls by up to 40% and will be fully exposed to the decline of the lesser performing index if it falls beyond the 60% barrier level.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Barrier enhanced return notes
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Basket components: | S&P 500 and Russell 2000
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Amount: | $3.55 million
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Maturity: | Jan. 22, 2024
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 107% of any gain of lesser-performing index; par if lesser-performing index falls by up to 40%; full exposure to loss if lesser-performing falls by more than 40%
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Initial index levels: | 3,329.62 for S&P and 1,699.635 for Russell
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Pricing date: | Jan. 17
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Settlement date: | Jan. 23
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78015KQA5
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