New Issue: RBC sells $900,000 barrier return notes linked to S&P 500

By Kiku Steinfeld

Chicago, July 24 – Royal Bank of Canada priced $900,000 of 0% barrier return notes due July 21, 2026 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus 1.05 times the gain.

If the index finishes flat or falls by up to 35%, the payout at maturity will be par.

Otherwise, investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier return notes
Underlying index:	S&P 500 index
Amount:	$900,000
Maturity:	July 21, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.05 times any index gain; par if index finishes flat or falls by up to 35%; otherwise, full exposure to index decline
Initial level:	3,215.57
Barrier level:	2,090.12; 65% of initial level
Pricing date:	July 16
Settlement date:	July 21
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78015KYB4

© 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.