Published on 11/15/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.28 million buffered enhanced return notes linked to S&P
By Sarah Lizee
Olympia, Wash., Nov. 15 – Royal Bank of Canada priced $3.28 million of 0% buffered enhanced return notes due Dec. 3, 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 200% of any index gain, capped at par plus 10%.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
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: | $3,275,000
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Maturity: | Dec. 3, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at par plus 10%; par if index falls by 10% or less; 1% loss per 1% decline beyond 10%
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Initial level: | 3,091.84
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Buffer level: | 2,782.66, 90% of initial level
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Pricing date: | Nov. 12
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Settlement date: | Nov. 15
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0.1%
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Cusip: | 78015KGC2
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