New Issue: RBC sells $626,000 absolute return barrier notes tied to iShares MSCI EAFE, EM

By Susanna Moon

Chicago, Sept. 13 – Royal Bank of Canada priced $626,000 of 0% absolute return barrier enhanced notes due Sept. 2, 2021 linked to the iShares MSCI EAFE exchange-traded fund and iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If each fund finishes above the initial level, the payout at maturity will be par plus 144.56% of the gain of the worse performing fund.

If either fund falls by up to its 70% barrier level, the payout will be par plus the absolute value of the return of the worse performing fund.

Otherwise, investors will lose 1% for each 1% decline of the worse performing fund.

RBC Capital Markets LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Absolute return barrier enhanced return notes
Underlying funds:	iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF
Amount:	$626,000
Maturity:	Sept. 2, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If each fund gains, par plus 144.56% of return of worse performing fund; if either fund falls by up to barrier, par plus absolute return of worse performing fund; otherwise, 1% loss per 1% decline of the worse performing fund
Initial levels:	$66.48 for EAFE fund, $44.69 for EM fund
Barrier levels:	$46.54 for EAFE fund, $31.28 for EM fund, 70% of initial levels
Pricing date:	Aug. 29
Settlement date:	Aug. 31
Agent:	RBC Capital Markets, LLC
Fees:	2.75%
Cusip:	78012K5M5

© 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.