New Issue: RBC prices $5 million buffered enhanced return notes linked to SPDR ETF

By William Gullotti

Buffalo, N.Y., July 11 – Royal Bank of Canada priced $5 million of 0% buffered enhanced return notes due June 26, 2025 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 200% of the return, capped at par plus 20.05%.

Investors will receive par if the ETF declines by 15% or less and will lose 1% for every 1% that the ETF declines beyond 15%.

RBC Capital Markets, LLC is the selling agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying fund:	SPDR S&P 500 ETF Trust
Amount:	$5 million
Maturity:	June 26, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 200% of ETF return, capped at par plus 20.05%; par if ETF declines by 15% or less; otherwise, 1% loss for every 1% of ETF decline beyond 15%
Initial level:	$433.21
Buffer level:	$368.23; 85% of initial level
Strike date:	June 23
Pricing date:	June 26
Settlement date:	June 29
Selling agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016NJX6

© 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.