Published on 5/25/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.21 million buffered bullish return notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 25 – Royal Bank of Canada priced $2.21 million of 0% buffered bullish enhanced return notes due Oct. 29, 2021 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 103% of any index gain.
Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond 20%.
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: | $2,205,000
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Maturity: | Oct. 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 103% of any index gain; par if index falls up to 20%; 1% loss for every 1% decline beyond 20%
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Initial index level: | 2,076.06
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Pricing date: | May 24
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Settlement date: | May 31
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78012KNX1
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