By Angela McDaniels
Tacoma, Wash., Dec. 24 – Royal Bank of Canada priced $2.02 million of 0% capped buffered bullish return notes with step-up feature due June 27, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than 15%, the payout at maturity will be par plus the index return, subject to a maximum return of 34.04%.
If the index return is zero or positive but not by more than 15%, the payout will be par plus 15%.
If the index return is negative but not by more than 20%, the payout will be par.
If the index return is less than negative 20%, investors will lose 1.25% for every 1% that the index declines beyond 20%.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Capped buffered bullish return notes with step-up feature
|
| Underlying index: | S&P 500
|
| Amount: | $2,021,000
|
| Maturity: | June 27, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is greater than 15%, par plus index return, subject to 34.04% maximum return; if index return is zero or positive but not by more than 15%, par plus 15%; if index return is negative but not by more than 20%, par; if index return is less than negative 20%, 1.25% loss for every 1% that index declines beyond 20%
|
| Initial index level: | 2,064.29
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 29
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 3%
|
| Cusip: | 78012KJY4
|
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