New Issue: RBC prices $2 million enhanced buffered PLUS linked to S&P 500

By William Gullotti

Buffalo, N.Y., Dec. 6 – Royal Bank of Canada priced $2 million of 0% enhanced buffered Performance Leveraged Upside Securities due Oct. 5, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above 85% of initial level, the payout at maturity will be par plus 2.9474 times the sum of the index return and 15%, subject to a maximum return of par plus 56%.

Otherwise, investors will lose 1% for every 1% decline of the index below 15%.

RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management as a dealer.

Issuer:	Royal Bank of Canada
Issue:	Enhanced buffered Performance Leveraged Upside Securities
Underlying index:	S&P 500 index
Amount:	$2 million
Maturity:	Oct. 5, 2027
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes at or above buffer level, par plus 2.9474 times the sum of the index return and 15%, subject to a maximum payout of par plus 56%; otherwise, 1% loss for every 1% decline below 15%
Initial level:	Average of index closing levels on every trading day from Nov. 17 to Feb. 17, 2023
Final level:	Average of index closing levels on every trading day from July 1, 2027 to Sept. 30, 2027
Buffer level:	85% of initial level
Pricing date:	Nov. 21
Settlement date:	Nov. 23
Agent:	RBC Capital Markets, LLC with Morgan Stanley Wealth Management as a dealer
Fees:	0.25%
Cusip:	78016G276

© 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.