Published on 6/12/2018 in the Prospect News Structured Products Daily.
New Issue: RBC prices $870,000 leveraged market plus notes on Euro Stoxx Banks
By Sarah Lizee
Olympia, Wash., June 12 – Royal Bank of Canada priced $870,000 of 0% leveraged market plus notes due Dec. 11, 2019 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.4 times any index gain.
Investors will receive par if the index falls by up to 25% and lose 1% for every 1% decline in the index beyond 25%.
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 market plus notes
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Underlying index: | Euro Stoxx Banks index
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Amount: | $870,000
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Maturity: | Dec. 11, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.4 times any index gain; par if index falls by 25% or less; 1% loss for every 1% decline in the index beyond 25%
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Initial level: | 111.82
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Barrier level: | 83.87, 75% of initial level
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Pricing date: | June 8
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Settlement date: | June 13
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Underwriter: | RBC Capital Markets, LLC
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Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 78013XMK1
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