Published on 5/30/2014 in the Prospect News Structured Products Daily.
New Issue: RBC prices $673,000 bullish barrier enhanced notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., May 30 - Royal Bank of Canada priced $673,000 of 0% bullish barrier enhanced return notes due May 31, 2018 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 135% of the index return, subject to a maximum return of 47.5%.
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: | $673,000
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Maturity: | May 31, 2018
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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 135% of the index return, capped at 47.5%; if index falls by up to 25%, par; otherwise, full exposure to losses from initial index level
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Initial level: | 1,909.78
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Barrier level: | 1,432.34, 75% of initial level
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Pricing date: | May 28
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Settlement date: | May 30
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Agent: | RBC Capital Markets, LLC
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Fees: | 3%
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Cusip: | 78010UYS0
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