Published on 12/28/2015 in the Prospect News Structured Products Daily.
New Issue: RBC prices $6.4 million bullish barrier enhanced notes tied to S&P 500
By Susanna Moon
Chicago, Dec. 28 – Royal Bank of Canada priced $6.4 million of 0% bullish barrier enhanced return notes due June 28, 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 150% of any index gain, up to a maximum return of 41.25%.
Investors will receive par if the index falls by 30% or less and will be fully exposed to any losses if the index finishes below the 70% barrier 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: | $6,398,000
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Maturity: | June 28, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at 41.25%; par if index declines by up to 30%; full exposure to any losses beyond 30%
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Initial index level: | 2,064.29
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Barrier level: | 1,445, 70% of initial level
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Pricing date: | Dec. 23
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Settlement date: | Dec. 29
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.75%
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Cusip: | 78012KJW8
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