By Susanna Moon
Chicago, April 16 - Royal Bank of Canada priced $19 million of 0% return enhanced notes due April 18, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.77 times any gain in the index.
Investors will be exposed to any losses.
RBC Capital Markets, LLC is the agent, and J.P. Morgan Securities LLC is the dealer.
Issuer: | Royal Bank of Canada
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Issue: | Return enhanced notes
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Underlying index: | S&P 500
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Amount: | $19 million
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Maturity: | April 18, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 177% of any index gain; exposure to any losses
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Initial level: | 1,588.85
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Pricing date: | April 12
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Settlement date: | April 17
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Agent: | RBC Capital Markets, LLC with J.P. Morgan Securities LLC as dealer
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Fees: | 3%
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Cusip: | 78008SN77
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