Published on 5/7/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $420,000 buffered enhanced return notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., May 7 – Royal Bank of Canada priced $420,000 of 0% buffered enhanced return notes due April 30, 2020 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 2 times any gain in the index, with the return capped at 20.6%.
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: | $420,000
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Maturity: | April 30, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any index gain, return capped at 20.6%; par if index falls by 10% or less; 1% loss per 1% decline beyond 10%
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Initial level: | 2,639.40
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Buffer level: | 2,375.46, 90% of initial level
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Pricing date: | April 25
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Settlement date: | April 30
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Underwriter: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78013XJH2
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