Published on 7/6/2020 in the Prospect News Structured Products Daily.
New Issue: RBC sells $6.84 million leveraged buffered notes tied to S&P 500
By Marisa Wong
Los Angeles, July 6 – Royal Bank of Canada priced $6.84 million of 0% leveraged buffered notes due March 24, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any index gain, up to a maximum settlement amount of $1,234.75 for each $1,000 principal amount of notes.
Investors will receive par if the index falls by up to 12.5% and will lose 1.1429% for each 1% decline beyond 12.5%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Leveraged buffered notes
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Underlying index: | S&P 500
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Amount: | $6,842,000
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Maturity: | March 24, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, subject to $1,234.75 maximum settlement amount per $1,000 of notes; par if index falls by up to 12.5%; 1.1429% loss for each 1% decline beyond 12.5% buffer
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Initial level: | 3,050.33
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Pricing date: | June 24
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Settlement date: | July 1
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Agent: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78015KTP9
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