New Issue: RBC prices $10.58 million digital notes linked to the SPDR S&P Metals & Mining ETF

By William Gullotti

Buffalo, N.Y., Sept. 2 – Royal Bank of Canada priced $10.58 million of 0% digital notes due Oct. 3, 2023 linked to the SPDR S&P Metals & Mining ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF finishes at or above 70% of its initial level, the payout at maturity will be $1,117 per $1,000 principal amount of notes.

Otherwise, investors will lose 1.4286% for every 1% that the ETF declines beyond 30%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital notes
Underlying fund:	SPDR S&P Metals & Mining ETF
Amount:	$10,575,000
Maturity:	Oct. 3, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF finishes at or above buffer level, $1,117 per $1,000 principal amount of notes; otherwise, 1.4286% loss for every 1% that ETF declines beyond 30%
Initial level:	$49.53
Buffer level:	70% of initial level
Pricing date:	Aug. 30
Settlement date:	Sept. 7
Agent:	RBC Capital Markets, LLC
Fees:	0.93%
Cusip:	78016FR97

© 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.