New Issue: RBC sells $9 million airbag return optimization notes linked to S&P 500

By Susanna Moon

Chicago, March 28 – Royal Bank of Canada priced $9 million of 0% airbag return optimization securities due April 27, 2017 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 double any gain in the index, up to a maximum return of 13.4%.

Investors will receive par if the index falls by up to 5% and will lose 1.05263% for every 1% decline beyond 5%.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Airbag return optimization securities
Underlying index:	S&P 500
Amount:	$9 million
Maturity:	April 27, 2017
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus double any index gain, capped at 13.4%; par if index falls by up to 5%; 1.05263% loss for every 1% decline beyond 5%
Initial level:	2,036.71
Barrier level:	95% of initial level
Pricing date:	March 24
Settlement date:	March 30
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	0.48%
Cusip:	78014C103

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.