Published on 12/30/2014 in the Prospect News Structured Products Daily.
New Issue: RBC sells $6.37 million contingent return optimization notes on S&P 500
By Susanna Moon
Chicago, Dec. 30 – Royal Bank of Canada priced $6.37 million of 0% contingent return optimization securities due Dec. 29, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 80% trigger level, the payout at maturity will be par of $10 plus the greater of the 8% contingent return and any index gain, up to a maximum return of 41.43%.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
Issuer: | Royal Bank of Canada
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Issue: | Contingent return optimization securities
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Underlying index: | S&P 500
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Amount: | $6,365,200
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Maturity: | Dec. 29, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus greater of 8% and any index gain, capped at 41.43%, if index finishes at or above trigger level; otherwise, full exposure to any losses
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Initial level: | 2,088.77
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Trigger level: | 1,671.02, 80% of initial level
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Pricing date: | Dec. 26
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Settlement date: | Dec. 31
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Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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Fees: | 2.5%
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Cusip: | 78011Y769
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