New Issue: RBC sells $6.12 million leveraged notes linked to SPDR S&P Bank ETF

By Marisa Wong

Morgantown, W.Va., May 3 – Royal Bank of Canada priced $6.12 million of 0% leveraged notes due May 20, 2019 tied to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is zero or positive, the payout at maturity will be par plus 300% times the fund return, subject to a maximum payout of par plus 30.45%. If the fund falls, the payout will be par plus the fund return with full exposure to losses.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Leveraged notes
Underlying fund:	SPDR S&P Bank ETF
Amount:	$6.12 million
Maturity:	May 20, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is zero or positive, par plus 300% of the fund return, payout capped at par plus 30.45%; if fund return is negative, par plus fund return
Initial price:	$43.23
Pricing date:	April 24
Settlement date:	May 1
Underwriter:	RBC Capital Markets, LLC
Fees:	1.83%
Cusip:	78012KL47

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