New Issue: RBC prices $610,000 buffered enhanced return notes tied to S&P 500

By Susanna Moon

Chicago, May 16 – Royal Bank of Canada priced $610,000 of 0% buffered enhanced return notes due May 6, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.15 times any gain in the index, up to a maximum return of 30%.

Investors will receive par if the index falls by up to 25% and will lose 1% for each 1% decline beyond 25%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying index:	S&P 500
Amount:	$610,000
Maturity:	May 6, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 115% of any index gain, return capped at 30%; par if index falls by 25% or less; 1% loss per 1% decline beyond 25%
Initial level:	2,629.73
Pricing date:	May 3
Settlement date:	May 8
Underwriter:	RBC Capital Markets, LLC
Fees:	0.6%
Cusip:	78013XKT4

© 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.