Published on 10/28/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $264,000 enhanced return notes linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, Oct. 28 – Royal Bank of Canada priced $264,000 of 0% enhanced return notes due Dec. 29, 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 triple any index gain, subject to a maximum payout of 111.1% of par.
Investors will lose 1% for each 1% decline.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Enhanced return notes
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Underlying index: | S&P 500
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Amount: | $264,000
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Maturity: | Dec. 29, 2017
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus triple any index gain, up to maximum return of 11.1%; 1% loss for each 1% decline
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Initial level: | 2,139.43
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 2.25%
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Cusip: | 78012KUA3
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