New Issue: RBC prices $1.5 million buffered enhanced return notes linked to mixed basket

By William Gullotti

Buffalo, N.Y., Aug. 25 – Royal Bank of Canada priced $1.5 million of 0% buffered enhanced return notes due Nov. 28, 2023 linked to a weighted basket of assets, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the S&P 500 index with a 70% weight, the Russell 2000 index with a 20% weight and the iShares MSCI Emerging Markets ETF with a 10% weight.

If the basket return is positive, the payout at maturity will be par plus 125% of the return, subject to a maximum payout of par plus 21.5%.

Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that the basket declines beyond 10%.

RBC Capital Markets, LLC is the selling agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying indexes:	S&P 500 index (70% weight), Russell 2000 index (20% weight), iShares MSCI Emerging Markets ETF (10% weight)
Amount:	$1.5 million
Maturity:	Nov. 28, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the basket return is positive, par plus 125% of basket return capped at par plus 21.5%; par if basket declines by 10% or less; otherwise, 1% loss for every 1% that basket declines beyond 10%
Initial levels:	4,137.99 for S&P, 1,915.743 for Russell, $39.55 for ETF
Buffer level:	90% of initial level
Pricing date:	Aug. 22
Settlement date:	Aug. 25
Selling agent:	RBC Capital Markets, LLC
Fees:	0.65%
Cusip:	78016FRZ9

© 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.