Published on 11/23/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.72 million buffered enhanced return notes linked to S&P
By Devika Patel
Knoxville, Tenn., Nov. 23 – Royal Bank of Canada priced $1.72 million of 0% buffered enhanced return notes due Nov. 28, 2018 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 1.5 times any gain in the index, up to a maximum payout of $1,140 for each $1,000 of notes.
Investors will receive par if the index falls by up to 19.25% and will lose 1% for each 1% decline beyond 19.25%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying index: | S&P 500
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Amount: | $1,717,000
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Maturity: | Nov. 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, capped at $1,140; par if index falls by 19.25% or less; 1% loss per 1% decline beyond 19.25%
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Initial level: | 2,202.94
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Buffer level: | 1,778.87, or 80.75% of initial level
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Pricing date: | Nov. 22
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Settlement date: | Nov. 30
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Underwriter: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78012KVS3
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