Published on 10/18/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.73 million levered buffered market plus notes on Stoxx 50
By Sarah Lizee
Olympia, Wash., Oct. 18 – Royal Bank of Canada priced $2.73 million of 0% levered buffered market plus notes due Oct. 25, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.1957 times any index gain.
If the index finishes flat or falls by up to 20%, the payout will be par.
If the index falls by more than 20%, investors will lose 1.25% for each 1% index decline beyond the 20% buffer.
RBC Capital Markets, LLC is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
Issuer: | Royal Bank of Canada
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Issue: | Levered buffered market plus notes
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Underlying index: | Euro Stoxx 50
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Amount: | $2,726,000
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Maturity: | Oct. 25, 2019
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | Par plus 1.1957 times any index gain; par if index falls by up to 20%; 1.25% loss for each 1% index decline beyond the 20% buffer
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Initial level: | 3,257.34
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Buffer level: | 2,605.87, 80% of initial level
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Final level: | Average of index closing levels on five trading days ending Oct. 18, 2019
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Pricing date: | Oct. 16
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Settlement date: | Oct. 30
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Underwriter: | RBC Capital Markets, LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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Fees: | None
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Cusip: | 78013XP51
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