Published on 10/26/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.75 million buffered enhanced return notes on index basket
By Emma Trincal
New York, Oct. 26 – Royal Bank of Canada priced $1.75 million of 0% buffered enhanced return notes due April 26, 2024 linked to an equally weighted basket of equity indexes consisting of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket return is positive, the payout at maturity will be par plus 110% of the gain.
Investors will receive par if the basket finishes flat or falls by up to 20% and will lose 1% for each 1% decline beyond the 20% buffer.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying basket: | S&P 500 (50% weight), Dow Jones industrial average (50% weight)
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Amount: | $1.75 million
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Maturity: | April 26, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 110% of any basket gain; par if basket finishes flat or declines by up to 20%; 1% loss per 1% drop beyond 20%
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Initial values: | 2,740.69 for S&P 500 and 25,191.43 for Dow
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Pricing date: | Oct. 23
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Settlement date: | Oct. 26
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.7%
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Cusip: | 78013XQ84
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