By Toni Weeks
San Diego, Oct. 23 - Royal Bank of Canada priced $1.27 million of 0% buffered enhanced return notes due Oct. 24, 2017 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the SPDR S&P 500 Trust, with an 80% weight, and the iShares MSCI EAFE index fund, with a 20% weight.
The payout at maturity will be par plus 103% of any basket gain.
Investors will receive par if the basket falls by 20% or less and will lose 1% for every 1% decline beyond 20%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered enhanced return notes
|
| Underlying ETFs: SPDR S&P 500 Trust, with an 80% weight, and iShares MSCI EAFE index fund, with a 20% weight
|
| Amount: | $1.27 million
|
| Maturity: | Oct. 24, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 103% of any basket gain; par if basket falls by up to 20%; 1% loss for every 1% decline beyond 20%
|
| Initial prices: | $143.30 for SPDR, $54.11 for iShares MSCI EAFE
|
| Pricing date: | Oct. 19
|
| Settlement date: | Oct. 24
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 3.5%
|
| Cusip: | 78008SPB6
|
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