Published on 5/30/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.5 million buffered enhanced return notes on iShares EAFE
By Sarah Lizee
Olympia, Wash., May 30 – Royal Bank of Canada priced $1.5 million of 0% buffered enhanced return notes due June 3, 2020 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 fund gain up to a maximum return of par plus 15%.
Investors will receive par if the fund falls by up to 24.25% and will lose 1% for each 1% decline beyond the 24.25% buffer.
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 ETF: | iShares MSCI EAFE ETF
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Amount: | $1,501,000
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Maturity: | June 3, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any fund gain up to a maximum return of par plus 15%; par if the fund falls by up to 24.25%; 1% loss for each 1% decline beyond 24.25%
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Initial share price: | $68.79
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Buffer price: | $52.11, 75.75% of initial price
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Pricing date: | May 29
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Settlement date: | May 31
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Underwriter: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78013XLF3
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