Published on 4/8/2019 in the Prospect News Structured Products Daily.
New Issue: RBC prices $912,000 buffered digital notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, April 8 – Royal Bank of Canada priced $2.85 million of 0% buffered digital notes due April 1, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 80% buffer, the payout at maturity will be par plus 25%.
Otherwise, investors will lose 1% for each 1% decline beyond 20%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered digital notes
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Underlying index: | S&P 500
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Amount: | $912,000
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Maturity: | April 1, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains or falls by up to 20%, par plus 25%; otherwise, 1% loss for each 1% decline beyond 20%
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Initial level: | 2,818.46
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Pricing date: | March 26
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Settlement date: | March 29
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 3.5%
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Cusip: | 78013X2J6
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