Published on 1/5/2017 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.19 million five-year market-linked notes tied to S&P 500
By Susanna Moon
Chicago, Jan. 5 – Royal Bank of Canada priced $4.19 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 4, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any index gain, up to a cap of $1,540 per $1,000 principal amount.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Market-linked securities – leveraged upside participation to a cap and buffered downside
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Underlying index: | S&P 500
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Amount: | $4,192,000
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Maturity: | Jan. 4, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at 54%; par if index falls by up to 15%; otherwise, 1% loss per 1% drop beyond 15%
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Initial level: | 2,249.26
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Pricing date: | Dec. 29
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Settlement date: | Jan. 4
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Agent: | Wells Fargo Securities LLC
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Fees: | 4.49%
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Cusip: | 78012KWB9
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