Published on 12/9/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.51 million buffered enhanced return notes tied to S&P 500
By Susanna Moon
Chicago, Dec. 9 – Royal Bank of Canada priced $1.51 million of 0% buffered enhanced return notes due Dec. 1, 2022 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 1.075 times any gain in the index.
Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.
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: | $1,512,000
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Maturity: | Dec. 1, 2022
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Coupon: | 5%, payable quarterly if index closes at or above its 65% coupon barrier on the observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus 107.5% of any index gain; par if index falls by 20% or less; 1% loss per 1% decline beyond 20%
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Initial level: | 2,201.72
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Pricing date: | Nov. 28
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Settlement date: | Nov. 30
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78012KVF1
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