Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.46 million buffered enhanced return notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., April 8 – Royal Bank of Canada priced $4.46 million of 0% buffered enhanced return notes due Aug. 4, 2021 linked to the S&P 500 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, capped at par plus 20.55%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying index: | S&P 500
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Amount: | $5,455,000
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Maturity: | Aug. 4, 2021
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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 capped at par plus 20.55%; par if index declines by buffer level or less; 1% loss for every 1% that index declines beyond buffer
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Initial level: | 2,626.65
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Buffer level: | 2,363.99, or 90% of initial level
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Pricing date: | March 30
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Settlement date: | April 3
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78015KJR6
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