Published on 7/8/2019 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.82 million leveraged market-linked notes on S&P
By Sarah Lizee
Olympia, Wash., July 8 – Royal Bank of Canada priced $1.82 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due July 3, 2023 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 125% of any index gain, capped at par plus 32%.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $1,817,000
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Maturity: | July 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 125% of any index gain, capped at par plus 32%; par if the index falls by up to 20%; 1% loss for every 1% decline beyond 20%
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Initial index level: | 2,941.76
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Threshold level: | 2,353.408, 80% of initial level
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Pricing date: | June 28
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Settlement date: | July 3
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.89%
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Cusip: | 78013XSD1
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