New Issue: RBC prices $1 million 5% buffered notes linked to S&P, Dow, Nasdaq

By William Gullotti

Buffalo, N.Y., July 14 – Royal Bank of Canada priced $1 million of 5% buffered notes due Jan. 11, 2024 linked to the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be paid monthly.

If each index finishes at or above its 60% buffer level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 40%.

RBC Capital Markets, LLC is the selling agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered notes
Underlying indexes:	S&P 500 index, Dow Jones industrial average, Nasdaq-100 index
Amount:	$1 million
Maturity:	Jan. 11, 2024
Coupon:	5% per year, payable monthly
Price:	Par
Payout at maturity:	If each index finishes at or above buffer level, par; otherwise, 1% loss for every 1% that worst performing index declines beyond 40%
Initial levels:	3,899.38 for S&P, 12,125.69 for Nasdaq, 31,338.15 for Dow
Buffer levels:	2,339.63 for S&P, 7,275.41 for Nasdaq, 18,802.89 for Dow; 60% of initial levels
Strike date:	July 8
Pricing date:	July 11
Settlement date:	July 14
Selling agent:	RBC Capital Markets, LLC
Fees:	0.3%
Cusip:	78016FP40

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.