Published on 6/28/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.77 million bullish barrier booster notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., June 28 – Royal Bank of Canada priced $3.77 million of 0% bullish barrier booster notes due June 30, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than 48%, the payout at maturity will be par plus the index return.
If the index return is positive but does not exceed 48%, the payout will be par plus 48%.
If the index return is zero to negative 30%, the payout will be par.
If the index return is less than negative 30%, investors will lose 1% for every 1% that the final level is less than the initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Bullish enhanced return notes
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Underlying index: | S&P 500
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Amount: | $3,771,000
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Maturity: | June 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than 48%, par plus index return; if index return is positive but does not exceed 48%, par plus 48%; if index return is zero to negative 30%, par; if index return is less than negative 30%, 1% loss for every 1% that final level is less than initial level
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Initial index level: | 2,000.54
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Barrier level: | 1,400.38, 70% of initial level
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Pricing date: | June 27
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Settlement date: | June 30
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78012KPT8
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