Published on 6/26/2013 in the Prospect News Structured Products Daily.
New Issue: RBC prices $8.37 million contingent return notes linked to S&P 500
By Marisa Wong
Madison, Wis., June 26 - Royal Bank of Canada priced $8.37 million of 0% contingent return optimization securities due Dec. 31, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 80% trigger level, the payout at maturity will be par of $10 plus the greater of the 6% contingent return and any index gain, up to a maximum return of 34.98%.
Otherwise, investors will be fully exposed to losses if the index falls by more than 20%.
RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.
Issuer: | Royal Bank of Canada
|
Issue: | Contingent return optimization securities
|
Underlying index: | S&P 500 index
|
Amount: | $8,373,090
|
Maturity: | Dec. 31, 2015
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If index finishes at or above trigger level, par plus greater of 6% contingent return and any index gain, up to a maximum return of 34.98%; full exposure to losses if index falls by more than 20%
|
Initial level: | 1,588.03
|
Trigger level: | 1,270.42, 80% of initial level
|
Pricing date: | June 25
|
Settlement date: | June 28
|
Agents: | RBC Capital Markets, LLC and UBS Financial Services Inc.
|
Fees: | 2.25%
|
Cusip: | 78008Y681
|
© 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.