Published on 5/21/2014 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1 million capped return enhanced notes linked to S&P 500
By Susanna Moon
Chicago, May 21 - Royal Bank of Canada priced $1 million of 0% capped return enhanced notes due June 24, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange.
The payout at maturity will be par plus double any gain in the index, up to a maximum return of 14.55%.
Investors will be exposed to any losses.
RBC Capital Markets, LLC is the agent.
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: | $1 million
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Maturity: | June 24, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any gain in the index, capped at 14.55%; exposure to any losses
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Initial level: | 1,885.08
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Pricing date: | May 19
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Settlement date: | May 22
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.75%
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Cusip: | 78010UYZ4
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