Published on 7/16/2013 in the Prospect News Structured Products Daily.
New Issue: RBC prices $465,000 five-year return enhanced notes linked to S&P 500
By Susanna Moon
Chicago, July 16 - Royal Bank of Canada priced $465,000 of 0% return enhanced notes due July 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 1.54 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: | $465,000
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Maturity: | July 18, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 154% of any index gain; exposure to any losses
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Initial level: | 1,680.19
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Pricing date: | July 12
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Settlement date: | July 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: | 78008S5S1
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