By Devika Patel
Knoxville, Tenn., Dec. 26 – Royal Bank of Canada priced $2.21 million of 0% capped levered buffered market plus notes due June 24, 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 any index gain, subject to a maximum payout of $1,253 per $1,000 of notes.
If the index finishes flat or falls by up to 20%, the payout will be par.
If the index falls by more than 20%, investors will lose 1.25% for each 1% index decline beyond the 20% buffer.
RBC Capital Markets, LLC is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.
| Issuer: | Royal Bank of Canada
|
| Issue: | Capped levered buffered market plus notes
|
| Underlying index: | S&P 500
|
| Amount: | $2.21 million
|
| Maturity: | June 24, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, capped at 25.3%; par if index falls by up to 20%; 1.25% loss for each 1% index decline beyond the 20% buffer
|
| Initial level: | 2,416.62
|
| Buffer level: | 1,933.30, 80% of initial level
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 28
|
| Agent: | RBC Capital Markets, LLC with JPMorgan Chase Bank, NA and JPMorgan Securities LLC as placement agents
|
| Fees: | None
|
| Cusip: | 78013XV70
|
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