Published on 10/10/2018 in the Prospect News Structured Products Daily.
New Issue: RBC prices $14.82 million digital notes due 2020 tied to S&P 500
By Sarah Lizee
Olympia, Wash., Oct. 10 – Royal Bank of Canada priced $14.82 million of 0% digital notes due Aug. 5, 2020 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 $1,133.60 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 index
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Amount: | $14,818,000
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Maturity: | Aug. 5, 2020
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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%, $1,133.60 per $1,000 principal amount; otherwise, 1.1429% loss per 1% decline beyond 12.5%
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Initial index level: | 2,880.34
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Threshold level: | 87.5% of initial level
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Pricing date: | Oct. 9
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Settlement date: | Oct. 16
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Agent: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78013XK31
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