New Issue: RBC sells $330,000 capped buffered return enhanced notes on stock basket

By Wendy Van Sickle

Columbus, Ohio, Nov. 23 – Royal Bank of Canada priced $330,000 of capped buffered return enhanced notes due Dec. 1, 2021 linked to an equally weighted basket of the shares of Enphase Energy, Inc., Linde plc and NextEra Energy, Inc., 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 1.5 times the basket gain, capped at $1,172.50 per $1,000 of notes.

If the basket declines by up to 15%, the payout will be par. Investors will lose 1.1765% for each 1% decline beyond 15%.

RBC Capital Markets, LLC is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC acting as the placement agents.

Issuer:	Royal Bank of Canada
Issue:	Capped buffered return enhanced notes
Underlying basket:	Enphase Energy, Inc., Linde plc and NextEra Energy, Inc., equal weights
Amount:	$330,000
Maturity:	Dec. 1, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the basket return is positive, the payout at maturity will be par plus 1.5 times the basket gain, capped at $1,172.50 per $1,000 of notes; if the basket declines by up to 15%, the payout will be par; investors will lose 1.1765% for each 1% decline beyond 15%
Initial levels:	$116.59 for Enphase, $257.06 for Linde and $77.19 for NextEra
Buffer level:	85% of initial level
Pricing date:	Nov. 13
Settlement date:	Nov. 18
Agents:	RBC Capital Markets, LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agent
Fees:	1%
Cusip:	78016ELK1

© 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.