Published on 7/30/2013 in the Prospect News Structured Products Daily.
New Issue: RBC prices $992,000 bullish barrier enhanced notes tied to S&P 500
By Marisa Wong
Madison, Wis., July 30 - Royal Bank of Canada priced $992,000 of 0% bullish barrier enhanced return notes due Aug. 2, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 125% of the index return, subject to a maximum return of 35%.
If the index declines by up to 25%, the payout will be par. If the index declines by more than 25%, investors will be fully exposed to losses from the initial index level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Bullish barrier enhanced return notes
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Underlying index: | S&P 500
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Amount: | $992,000
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Maturity: | Aug. 2, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 125% of the index return, capped at 35%; if index falls by up to 25%, par; otherwise, full exposure to losses from initial index level
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Initial level: | 1,685.33
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Barrier level: | 1,264.00, 75% of initial level
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Pricing date: | July 29
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Settlement date: | July 31
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.75%
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Cusip: | 78008S4V5
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