By William Gullotti
Buffalo, N.Y., June 13 – Royal Bank of Canada priced $3.63 million of 0% market plus notes due Jan. 24, 2025 inked 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 the index gain.
If the index finishes flat or falls by up to 21.5%, the payout will be par.
If the index falls by more than 21.5%, investors will lose 1% for each 1% index decline below the initial level.
RBC Capital Markets, LLC is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Market plus notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,628,000
|
| Maturity: | Jan. 24, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain; par if index falls by up to barrier level; full exposure to losses if index falls by more than barrier level
|
| Initial level: | 4,205.45
|
| Barrier level: | 3,301.28; 78.5% of initial level
|
| Pricing date: | May 26
|
| Settlement date: | June 1
|
| Agent: | RBC Capital Markets, LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
|
| Fees: | 1.33%
|
| Cusip: | 78016NDP9
|
|
|
© 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.
