Published on 11/1/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $6.15 million buffered enhanced return notes on iShares EAFE
By Marisa Wong
Morgantown, W.Va., Nov. 1 – Royal Bank of Canada priced $6.15 million of 0% buffered enhanced return notes due Oct. 30, 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 15%.
Investors will receive par if the fund falls by up to 28.55% and will lose 1% for each 1% decline beyond the 28.55% 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: | $6,152,000
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Maturity: | Oct. 30, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is positive, par plus 150% of ETF return, subject to 15% maximum return; par if ETF declines by 28.55% or less; 1% loss for every 1% that ETF may decline beyond 28.55%
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Initial share price: | $61.43
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Buffer price: | $43.89, 71.45% of initial price
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Underwriter: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78013XP28
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