New Issue: RBC prices $16.03 million buffered notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., June 17 - Royal Bank of Canada priced $16.03 million of 0% buffered notes due June 16, 2016 linked 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 return, subject to a maximum settlement amount of $1,290 per $1,000 principal amount of notes. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that it declines beyond 20%, if any.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered notes
Underlying index:	S&P 500
Amount:	$16,026,000
Maturity:	June 16, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, up to 29% cap; par if index declines by 20% or less; 1.25% loss for every 1% decline beyond 20%, if any
Initial index level:	1,636.36
Pricing date:	June 13
Settlement date:	June 20
Underwriter:	RBC Capital Markets, LLC
Fees:	2.67%
Cusip:	78008S2M7

© 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.