New Issue: RBC prices $6.1 million leveraged buffered notes linked to S&P 500

By Susanna Moon

Chicago, June 19 - Royal Bank of Canada priced $6.1 million of 0% leveraged buffered index-linked notes due June 22, 2015 tied 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 double any index gain, up to a maximum settlement of $1,188 per $1,000 note.

Investors will receive par if the index falls by up to 5% and lose 1.0526% per 1% drop beyond 5%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Leveraged buffered index-linked notes
Underlying index:	S&P 500
Amount:	$6,102,000
Maturity:	June 22, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at 18.8%; par if index falls by up to 5%; 1.0526% loss for every 1% decline beyond 5%
Initial level:	1,639.04
Buffer level:	95% of initial level
Pricing date:	June 17
Settlement date:	June 24
Underwriter:	RBC Capital Markets, LLC
Fees:	2.2%
Cusip:	78008S3L8

© 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.