New Issue: RBC prices $1 million barrier booster notes linked to S&P, Stoxx

By William Gullotti

Buffalo, N.Y., Jan. 18 – Royal Bank of Canada priced $1 million of 0% barrier booster notes due July 3, 2028 linked to the worse performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the lesser performing index is greater than 80%, the payout at maturity will be par plus the return of the lesser performing index.

If the return of the lesser performing index is flat or gains up to 80%, the payout will be par plus 80%.

If the lesser performing falls by up to 20%, the payout will be par.

If the lesser performing index falls by more than 20%, investors will lose 1% for every 1% decline of the lesser performing index below its the initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier booster notes
Underlying indexes:	S&P 500 index, Euro Stoxx 50 index
Amount:	$1 million
Maturity:	July 3, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If lesser performing index gains by more than 80%, par plus the gain of that index; if lesser performing index finishes flat or gains by up to 80%, par plus 80%; if lesser performing index falls by up to 20%, par; if lesser performing index falls by more than 20%, full exposure to decline of that index from initial level
Initial levels:	3,808.82 for Stoxx, 3,783.22 for S&P
Barrier levels:	3,047.06 for Stoxx, 3,026.58 for S&P; 80% of initial levels
Pricing date:	Dec. 28
Settlement date:	Jan. 3
Agent:	RBC Capital Markets, LLC
Fees:	2.75%
Cusip:	78016HK25

© 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.