By Susanna Moon
Chicago, Dec. 23 – Royal Bank of Canada priced $1.91 million of 0% dual directional trigger Performance Leveraged Upside Securities due Dec. 22, 2017 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes above the initial price, the payout at maturity will be par of $10 plus double the fund return, up to a maximum payout of $13.20 per note.
If the fund falls by up to the 80% trigger level, the payout will be par plus the absolute value of the return, up to a maximum return of par plus $2.00.
Otherwise, investors will be fully exposed to any losses.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $1.91 million
|
| Maturity: | Dec. 22, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus 200% of any fund gain, capped at 32%; if fund falls by up to the 20%, par plus absolute value of return, up to par plus $2.00; otherwise, full exposure to any losses
|
| Initial share price: | $80.57
|
| Trigger level: | 80% of initial level
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 24
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.5%
|
| Cusip: | 78011Y876
|
|
|
|
|
© 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.
