By Jennifer Chiou
New York, Dec. 5 – Royal Bank of Canada priced $3.3 million of 5.2% cash-settled geared buffered reverse convertible notes due Dec. 18, 2015 linked to the worst performing of the iShares MSCI EAFE ETF and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final price of the worst-performing fund is less than its buffer level, 85% of the initial price, in which case investors will lose 1.1764% for every 1% that the worst-performing fund declines beyond 15%.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Cash-settled geared buffered reverse convertible notes
|
| Underlying ETFs: iShares MSCI EAFE ETF and iShares Russell 2000 ETF
|
| Amount: | $3.3 million
|
| Maturity: | Dec. 18, 2015
|
| Coupon: | 5.2%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final price of the worst-performing fund is less than buffer level, in which case investors will lose 1.1764% for every 1% that worst-performing fund declines beyond 15%
|
| Initial prices: | $64.04 for EAFE; $117.40 for Russell
|
| Buffer prices: | $54.43 for EAFE; $99.79 for Russell; 85% of initial prices
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 8
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | None
|
| Cusip: | 78010U6X0
|
|
|
© 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.
