Published on 4/7/2020 in the Prospect News Structured Products Daily.
New Issue: RBC sells $851,000 buffered return notes linked to the Dow
By Marisa Wong
Los Angeles, April 7 – Royal Bank of Canada priced $851,000 of 0% buffered return notes due Dec. 31, 2025 linked to the Dow Jones industrial average, 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 25% or less and will lose 1% for every 1% that it declines beyond 25%.
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: | Dow Jones industrial average
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Amount: | $851,000
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Maturity: | Dec. 31, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; par if index declines by 25% or less; 1% loss for every 1% that index declines beyond 25%
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Initial level: | 22,552.17
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Buffer level: | 16,914.13, or 75% of initial level
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Pricing date: | March 26
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Settlement date: | March 31
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78015KNC4
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