New Issue: RBC prices $2.99 million absolute return barrier notes due 2021 tied to S&P

By Wendy Van Sickle

Columbus, Ohio, July 31 – Royal Bank of Canada priced $2.99 million of 0% absolute return barrier notes due July 30, 2021 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index finishes above its initial level or has never closed below the barrier level, 75% of the initial level, during the life of the notes, the payout at maturity will be par plus the gain.

Otherwise, investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Absolute return barrier notes
Underlying index:	S&P 500 index
Amount:	$2,991,000
Maturity:	July 30, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes above its initial level or has never closed below barrier level, par plus absolute value of return; otherwise, full exposure to any losses
Initial level:	3,025.86
Barrier level:	2,269.4, 75% of initial level
Pricing date:	July 26
Settlement date:	July 31
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78013XX37

© 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.