New Issue: RBC prices $2.44 million return enhanced notes linked to S&P 500

By William Gullotti

Buffalo, N.Y., April 29 – Royal Bank of Canada priced $2.44 million of 0% return enhanced notes due June 29, 2023 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 300% of the return, subject to a maximum payout of par plus 16.5%.

Investors will be fully exposed to any index decline.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Return enhanced notes
Underlying index:	S&P 500 index
Amount:	$2.44 million
Maturity:	June 29, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 300% of index return capped at 16.5%; otherwise, full exposure to any index decline
Initial level:	4,175.2
Pricing date:	April 26
Settlement date:	April 29
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016FHY3

© 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.