By Toni Weeks
San Luis Obispo, Calif., Nov. 3 – Royal Bank of Canada priced $34.8 million of Leveraged Index Return Notes due Oct. 25, 2019 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 105.2% of any index gain.
Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond 20%.
The final index value will be the average of the closing index values on the five trading days ending Oct. 22, 2019.
BofA Merrill Lynch is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Leveraged Index Return Notes
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $34,800,460
|
| Maturity: | Oct. 25, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 105.2% of any index gain; par if index falls by up to 20% and exposure to any losses beyond 20%
|
| Initial level: | 17,195.42
|
| Threshold level: | 13,756.34, 80% of initial level
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 6
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 78011X530
|
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