Published on 6/18/2015 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.9 million leveraged buffered notes tied to iShares MSCI EM
By Toni Weeks
San Luis Obispo, Calif., June 18 – Royal Bank of Canada priced $1.9 million of 0% leveraged buffered notes due June 21, 2017 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any fund gain, up to the maximum settlement amount of $1,300 for each $1,000 principal amount.
Investors will receive par if the fund falls by up to 12.5% and will lose 1.1429% for every 1% decline beyond 12.5%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Leveraged buffered notes
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $1,902,000
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Maturity: | June 21, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any fund gain, up to maximum settlement amount of $1,300 for each $1,000 principal amount; par if fund falls by up to 12.5%; 1.1429% loss for every 1% decline beyond 12.5%
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Initial price: | $39.80
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Pricing date: | June 16
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Settlement date: | June 23
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Underwriter: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78012KEX1
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