Published on 6/8/2020 in the Prospect News Structured Products Daily.
New Issue: RBC sells $560,000 buffered return notes linked to the Dow
By Marisa Wong
Los Angeles, June 8 – Royal Bank of Canada priced $560,000 of 0% buffered return notes due May 30, 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 15% or less and will lose 1% for every 1% that it declines beyond 15%.
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: | $560,000
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Maturity: | May 30, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus index return; investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%
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Initial level: | 25,548.27
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Buffer level: | 21,716.03, 85% of initial level
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Pricing date: | May 27
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Settlement date: | May 29
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78015KSJ4
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