Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for SPDR Dow Jones Industrial Average exchange-traded fund trust > News item |
RBC plans bullish barrier booster notes linked to SPDR Dow ETF trust
By Toni Weeks
San Luis Obispo, Calif., Feb. 28 - Royal Bank of Canada plans to price 0% bullish barrier booster notes due March 29, 2017 linked to the SPDR Dow Jones Industrial Average exchange-traded fund trust, according to an FWP filing with the Securities and Exchange Commission.
If the fund return is positive but not greater than 25%, the payout at maturity will be par plus a fixed return of 25%.
If the fund return is greater than 25%, the payout at maturity will be par plus 115% to 135% of the percentage increase above 25% plus the 25% fixed return. The exact participation rate will be set at pricing.
Investors will receive par if the fund falls by up to 25% and will be fully exposed to losses if the shares fall below the 75% barrier level.
The notes (Cusip: 78008SA30) will price March 26 and settle March 28.
RBC Capital Markets, LLC is the underwriter.
© 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.