By William Gullotti
Buffalo, N.Y., April 25 – Royal Bank of Canada priced $5 million of barrier absolute return notes due April 2, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 50% of the index return.
If the index finishes flat or declines up to the barrier level, 70% of the initial index level, the payout will be par plus 1.25 times the absolute value of the index return.
Otherwise, investors will lose 1% for every 1% decline of the index from its initial level.
RBC Capital Markets LLC is the underwriter.
Issuer: | Royal Bank of Canada
|
Issue: | Barrier absolute return notes
|
Underlying index: | S&P 500 index
|
Amount: | $5 million
|
Maturity: | April 2, 2026
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index finishes above its initial level, par plus 50% of the index return; if index finishes flat or declines by no more than 30%, par plus 1.25 times the absolute value of index return; otherwise, full exposure to the index’s decline from its initial level
|
Initial index level: | 5,254.35
|
Barrier level: | 3,678.05; 70% of initial level
|
Pricing date: | March 28
|
Settlement date: | April 2
|
Underwriter: | RBC Capital Markets LLC
|
Fees: | 2.35%
|
Cusip: | 78017FQX4
|
|
© 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.