New Issue: RBC prices $1.34 million buffered enhanced return notes linked to stock basket

By Wendy Van Sickle

Columbus, Ohio, Dec. 6 – Royal Bank of Canada priced $1.34 million of 0% buffered enhanced return notes due Dec. 1, 2028 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the stocks of Apple Inc., Amazon.com, Inc. and Alphabet Inc., Microsoft Corp. and Tesla, Inc., each with a 20% weight.

If the basket return is positive, the payout at maturity will be par plus 125% of the return, subject to a maximum payout of par plus 112.75%.

Investors will receive par if the basket declines by 20% or less and will lose 1% for every 1% that the basket declines beyond 20%.

RBC Capital Markets, LLC is the selling agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying stocks:	Apple Inc., Amazon.com, Inc., Alphabet Inc., Microsoft Corp. and Tesla, Inc.; equal weights
Amount:	$1,335,000
Maturity:	Dec. 1, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If the basket return is positive, par plus 125% of basket return, capped at par plus 112.75%; par if basket declines by 20% or less; otherwise, 1% loss for every 1% that basket declines beyond 20%
Initial levels:	$190.40 for Apple, $147.03 for Amazon, $137.20 for Alphabet, $382.70 for Microsoft, $246.72 for Tesla
Buffer level:	80% of initial level
Pricing date:	Nov. 27
Settlement date:	Dec. 1
Selling agent:	RBC Capital Markets, LLC
Fees:	0%
Cusip:	78016N6J1

© 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.