Published on 5/25/2017 in the Prospect News Structured Products Daily.
New Issue: RBC sells $3.6 million buffered enhanced return notes linked to S&P 500
By Susanna Moon
Chicago, May 25 – Royal Bank of Canada priced $3.6 million of 0% buffered enhanced return notes due Oct. 23, 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 double any gain in the index, up to a maximum return of 112.6% of par.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% 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: | $3,602,000
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Maturity: | Oct. 23, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 12.6%; par if index falls by 10% or less; 1.1111% loss per 1% decline beyond 10%
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Initial level: | 2,365.72
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Pricing date: | May 18
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Settlement date: | May 23
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78012KT72
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