New Issue: RBC sells $788,000 six-year geared buffered return notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 1 – Royal Bank of Canada priced 788,000 of 0% geared buffered return notes due Nov. 30, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 103.1% of the index return. Investors will receive par if the index declines by 25.5% or less and will lose 1.3889% for every 1% that the index declines beyond 25.5%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Geared buffered return notes
Underlying index:	S&P 500
Amount:	$788,000
Maturity:	Nov. 30, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than or equal to initial index level, par plus 103.1% of index return; par if index declines by 25.5% or less; 1.3889% loss for every 1% that index declines beyond 25.5%
Initial index level:	2,601.42
Pricing date:	Nov. 27
Settlement date:	Nov. 30
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78013XAF5

© 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.