New Issue: RBC prices $1.46 million autocallable barrier enhanced return notes linked to S&P 500

By William Gullotti

Buffalo, N.Y., April 5 – Royal Bank of Canada priced $1.46 million of 0% autocallable barrier enhanced return notes due April 2, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called automatically at par plus a 9% call premium if the index closes at or above its initial level on April 1, 2024.

If the notes are not called and the index return is positive, the payout at maturity will be par plus 178% of the return.

Investors will receive par if the index declines by 30% or less and will be fully exposed to loss if the index declines by more than 30%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Autocallable barrier enhanced return notes
Underlying index:	S&P 500 index
Amount:	$1,463,000
Maturity:	April 2, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 178% of index return; par if index declines by 30% or less; otherwise, 1% loss for every 1% of index decline from initial level
Call:	Automatically at par plus 9% call premium if the index closes at or above initial level on April 1, 2024
Initial level:	3,971.27
Barrier level:	2,779.89; 70% of initial level
Pricing date:	March 28
Settlement date:	March 31
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016HUN8

© 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.