Published on 12/10/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.36 million barrier booster notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., Dec. 10 – Royal Bank of Canada priced $2.36 million of 0% barrier booster notes due Dec. 1, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than the 33% booster, the payout at maturity will be par plus the index return.
If the index return is positive but does not exceed the booster, the payout will be par plus the booster.
If the index return is zero to negative 30%, the payout will be par.
If the index return is less than negative 30%, investors will lose 1% for every 1% that the final level is less than the initial level.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Barrier booster notes
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Underlying index: | S&P 500
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Amount: | $2,358,000
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Maturity: | Dec. 1, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains by more than 33%, par plus index return; if index gains by up to 33%, par plus 33%; if index falls by up to 30%, par; otherwise, 1% loss for each 1% decline from initial level
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Initial index level: | 3,133.64
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Barrier level: | 2,193.55, 70% of initial level
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Pricing date: | Nov. 25
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Settlement date: | Nov. 29
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78015KCG7
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