Published on 11/19/2014 in the Prospect News Structured Products Daily.
New Issue: RBC prices $13.29 million buffered bullish enhanced return notes on S&P 500
By Jennifer Chiou
New York, Nov. 19 – Royal Bank of Canada priced $13,289,000 of 0% buffered bullish enhanced return notes due May 23, 2019 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus 135.05% of any index gain, up to a maximum return of 67.525%.
Investors will receive par if the index falls by up to 25% and will lose 1.33% for every 1% decline beyond 25%.
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: | $13,289,000
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Maturity: | May 23, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 135.05% of any index gain, capped at 67.525%; par if index falls by up to 25%; exposure to losses beyond 25% at rate of 1.33% per 1% drop
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Initial index level: | 2,051.80
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Buffer level: | 1,538.85, 75% of initial level
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Pricing date: | Nov. 18
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Settlement date: | Nov. 21
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Agent: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78010U4W4
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