Published on 3/8/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $885,000 capped buffered enhanced return notes linked to S&P
By Susanna Moon
Chicago, March 8 – Royal Bank of Canada priced $885,000 of 0% buffered enhanced return notes due Feb. 28, 2019 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 1.1 times any gain in the index, up to a to the maximum redemption amount of 119% of par.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
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: | $885,000
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Maturity: | Feb. 28, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 110% of any index gain, capped at 119% of par; par if index falls by 10% or less; 1% loss per 1% decline beyond 10%
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Initial level: | 2,367.34
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Pricing date: | Feb. 24
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Settlement date: | Feb. 28
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 1.75%
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Cusip: | 78012KA23
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