Published on 4/10/2017 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.15 million buffered enhanced return notes on iShares EAFE
By Marisa Wong
Morgantown, W.Va., April 10 – Royal Bank of Canada priced $1.15 million of 0% buffered enhanced return notes due March 29, 2019 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any gain in the fund, subject to a maximum return of 15%.
Investors will receive par if the fund falls by up to 22.25% and will lose 1% for each 1% decline beyond 22.25%.
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 fund: | iShares MSCI EAFE ETF
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Amount: | $1,151,000
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Maturity: | March 29, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any fund gain, return capped at 15%; par if fund falls by 22.25% or less; 1% loss per 1% decline beyond 22.25%
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Initial price: | $62.60
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Buffer level: | $48.67, 77.75% of initial price
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Pricing date: | March 28
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Settlement date: | March 31
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Underwriter: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78012KE37
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