New Issue: RBC prices $3.6 million barrier booster notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., April 10 – Royal Bank of Canada priced $3.6 million of 0% barrier booster notes due March 31, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index gains by more than 43.5%, the payout at maturity will be par plus the return.

If the index gains by up to the 43.5% booster percentage, the payout will be par plus the booster coupon of 43.5%.

Investors will receive par if the index falls by up to 30% and will be fully exposed to any losses if the index finishes below the 70% barrier level.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Barrier booster notes
Underlying index:	S&P 500 index
Amount:	$3,598,000
Maturity:	March 31, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the index gains by more than 43.5%, par plus the return; if the index gains by up to 43.5%, par plus 43.5%; par if the index falls by up to 30%; full exposure to any losses if the index finishes below the 70% barrier level
Initial level:	2,358.57
Barrier level:	1,651.00, 70% of initial level
Pricing date:	March 28
Settlement date:	March 31
Agent:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78012KC96

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.