Published on 1/10/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $6 million buffered enhanced return notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 10 – Royal Bank of Canada priced $6 million of 0% buffered enhanced return notes due Dec. 31, 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 190% of any index gain up to a maximum payout of 120% of par.
Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.
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: | $6 million
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Maturity: | Dec. 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 190% of any index gain up to a maximum payout of 120% of par; par if index falls by 20% or less; 1% loss per 1% decline beyond 20%
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Initial level: | 2,506.85
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Buffer level: | 2,005.48, 80% of initial level
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Pricing date: | Jan. 2
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Settlement date: | Jan. 7
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0.5%
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Cusip: | 78013XVG0
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