Published on 2/5/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.34 million buffered return notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., Feb. 5 – Royal Bank of Canada priced $4.34 million of 0% buffered return notes due Feb. 2, 2026 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. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered return notes
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Underlying index: | S&P 500
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Amount: | $4,336,000
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Maturity: | Feb. 2, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus index return; par if index declines by 20% or less; 1% loss for every 1% that index declines beyond 20%
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Initial level: | 3,276.24
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Buffer level: | 2,620.99, or 80% of initial level
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Pricing date: | Jan. 28
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Settlement date: | Jan. 31
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78015KLE2
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