By Marisa Wong
Madison, Wis., June 30 – Royal Bank of Canada priced $22.15 million of Capped Leveraged Index Return Notes due June 24, 2016 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 of $10 plus double any index gain, subject to a maximum return of 14.34%.
Investors will receive par if the index falls by up to 5% and will be exposed to any losses beyond 5%.
The final index level will be the average of the closing index levels on the five trading days ending June 21, 2016.
BofA Merrill Lynch is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | S&P 500
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Amount: | $22,152,400
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Maturity: | June 24, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain; par if index falls by up to 5% and exposure to any losses beyond 5%
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Initial level: | 1,957.22
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Threshold level: | 1,859.36, 95% of initial level
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Final level: | Average of closing index levels on five trading days ending June 21, 2016
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Pricing date: | June 26
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Settlement date: | July 3
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 78011X886
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