New Issue: RBC sells $71,000 barrier return notes linked to S&P 500

By Sarah Lizee

Olympia, Wash., June 26 – Royal Bank of Canada priced $71,000 of 0% barrier return notes due Sept. 30, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the index return. If the index return is between zero and negative 50%, inclusive, the payout will be par. If the index return is less than negative 50%, investors will lose 1% for every 1% that the index declines from its initial level.

RBC Capital Markets LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Barrier return notes
Underlying index:	S&P 500
Amount:	$71,000
Maturity:	Sept. 30, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus the index return; if the index return is between zero and negative 50%, inclusive, par; if the index return is less than negative 50%, 1% loss for every 1% that the index declines from its initial level
Initial level:	2,917.38
Barrier level:	1,458.69, 50% of initial level
Pricing date:	June 25
Settlement date:	June 28
Agent:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78013XU30

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.