Published on 1/28/2016 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.05 million bullish enhanced return notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 28 – Royal Bank of Canada priced $1.05 million of 0% bullish enhanced return notes due March 30, 2017 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, up to a maximum return of 14.85%.
Investors will be fully exposed to any decline in the index.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Bullish enhanced return notes
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| Underlying index: | S&P 500
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| Amount: | $1.05 million
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| Maturity: | March 30, 2017
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus triple any index gain, capped at 14.85%; exposure to any losses
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| Initial level: | 1,903.63
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 29
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78012KKL0
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