Published on 2/8/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.79 million market-linked notes tied to S&P 500 index
By Marisa Wong
Morgantown, W.Va., Feb. 8 – Royal Bank of Canada priced $3.79 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside – due Feb. 3, 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 of $10 plus 1.5 times any index gain, up to a maximum return of 52.5%.
If the index falls by up to 15%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $3.79 million
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Maturity: | Feb. 3, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.5 times any index gain, capped at 52.5%; par if index falls by up to 15%; otherwise, 1% loss for each 1% decline beyond 15%
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Initial level: | 2,278.87
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Buffer level: | 1,937.0395, 85% of initial level
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Pricing date: | Jan. 31
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Settlement date: | Feb. 3
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Agent: | Wells Fargo Securities, LLC
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Fees: | 4.32%
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Cusip: | 78012KXZ5
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