Published on 5/16/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $770,000 enhanced return notes tied to fund basket
By Wendy Van Sickle
Columbus, Ohio, May 16 – Royal Bank of Canada priced $770,000 or 0% enhanced return notes due Nov. 18, 2020 linked to a basket of unequally weighted exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying components are the SPDR S&P 500 exchange-traded fund with a 40% weight, and the iShares Russell 2000 exchange-traded fund, the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets exchange-traded fund, each with a 20% weight.
The payout at maturity will be par plus 300% of any basket gain up to a 113.5% maximum payout.
Investors will be fully exposed to any decline in the basket.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Enhanced return notes
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Basket components: | SPDR S&P 500 exchange-traded fund (40% weight), iShares Russell 2000 exchange-traded fund (20% weight), iShares MSCI EAFE exchange-traded fund (20% weight) and iShares MSCI Emerging Markets exchange-traded fund (20% weight)
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Amount: | $770,000
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Maturity: | Nov. 18, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any basket gain, up to 113.5% maximum payout; exposure to any decline in the basket
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Initial levels: | $240.30 for SPDR S&P 500, $138.58 for iShares Russell 2000, $65.57 for iShares MSCI EAFE, $41.64 for iShares MSCI Emerging Markets
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Pricing date: | May 15
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Settlement date: | May 18
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 1.75%
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Cusip: | 78012KP92
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