Published on 5/5/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $265,000 bullish return notes due 2017 linked to S&P 500
By Susanna Moon
Chicago, May 5 – Royal Bank of Canada priced $265,000 of 0% bullish enhanced return notes due June 30, 2017 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any index gain, up to a maximum return of 11.7%.
Investors will be exposed to any losses.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Bullish enhanced return notes
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Underlying index: | S&P 500
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Amount: | $265,000
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Maturity: | June 30, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any index gain, capped at 11.7% of par; exposure to any losses
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Initial level: | 2,091.70
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Pricing date: | April 26
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Settlement date: | April 29
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 2.25%
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Cusip: | 78012KMQ7
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