Published on 6/19/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.86 million buffered enhanced return notes on S&P 500
New York, June 19 – Royal Bank of Canada priced $2.86 million of 0% buffered enhanced return notes due March 20, 2024 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 108% of any gain in the index.
Investors will receive par if the index falls by up to 25% and will lose 1% for each 1% decline beyond 25%.
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: | $2,857,000
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Maturity: | March 20, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 108% of any index gain; par if index falls by 25% or less; 1% loss per 1% decline beyond 25%
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Initial level: | 2,779.66
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Buffer level: | 2,084.75, 75% of initial level
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Pricing date: | June 15
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Settlement date: | June 20
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 2.75%
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Cusip: | 78013XMU9
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