Published on 5/1/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $4.93 million 17-month digital notes linked to S&P 500
By Susanna Moon
Chicago, May 1 – Royal Bank of Canada priced $4.93 million of 0% digital notes due Sept. 30, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 87.5% threshold, the payout at maturity will be the threshold settlement amount of $1,103.60 per $1,000 principal amount.
Otherwise, investors will lose 1.1429% for each 1% decline beyond 12.5%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Digital notes
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Underlying index: | S&P 500
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Amount: | $4,933,000
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Maturity: | Sept. 30, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is at least negative 12.5%, par plus 10.36%; otherwise, 1.1429% loss per 1% decline beyond 12.5%
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Initial index level: | 2,634.56
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Threshold level: | 87.5% of initial level
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Pricing date: | April 24
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Settlement date: | May 1
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Agent: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78013XJQ2
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