By Wendy Van Sickle
Columbus, Ohio, March 3 –Bank of Montreal priced $2.92 million of 0% buffered bullish enhanced return notes due Feb. 28, 2019 linked to the iShares U.S. Real Estate exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any fund, up to a maximum payout of par plus 15%.
Investors will receive par if the fund falls by up to 23% and will lose 1% for each 1% decline beyond 23%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered bullish enhanced return notes
|
| Underlying fund: iShares U.S. Real Estate ETF
|
| Amount: | $2,919,000
|
| Maturity: | Feb. 28, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any fund gain capped at par plus 15%; par if fund declines by up to 23%; 1% loss per 1% decline beyond 23%
|
| Initial level: | $79.91
|
| Buffer level: | $61.53, 77% of initial level
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Agent: | BMO Capital Markets
|
| Fees: | 0.25%
|
| Cusip: | 06367TTD2
|
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