Published on 10/21/2014 in the Prospect News Structured Products Daily.
New Issue: RBC prices $9.93 million buffered bullish enhanced return notes linked to S&P 500
By Susanna Moon
Chicago, Oct. 21 – Royal Bank of Canada priced $9.93 million of 0% buffered bullish enhanced return notes due Oct. 22, 2019 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 144% of any index gain.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered bullish enhanced return notes
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Underlying index: | S&P 500
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Amount: | $9.93 million
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Maturity: | Oct. 22, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 144% of any index gain; par if index falls by up to 10%; 1.1111% loss per 1% drop beyond 10%
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Initial index level: | 1,886.76
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Buffer level: | 1,698.08, 90% of initial level
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Pricing date: | Oct. 17
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Settlement date: | Oct. 22
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Agent: | RBC Capital Markets, LLC
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Fees: | 1%
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Cusip: | 78010U4S3
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