New Issue: RBC prices $1.58 million leveraged notes linked to S&P 500 index

By Wendy Van Sickle

Columbus, Ohio, April 15 – Royal Bank of Canada priced $1.58 million of 0% leveraged notes due Oct. 5, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 300% of the index return, subject to a maximum settlement amount of $1,216 per $1,000 principal amount. If the index return is negative, investors will have full exposure to the decline.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Leveraged notes
Underlying index:	S&P 500
Amount:	$1,583,000
Maturity:	Oct. 5, 2017
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If index gains, par plus 300% of return, subject to maximum of $1,216 per $1,000 note; full exposure to any index loss
Initial index level:	2,082.42
Pricing date:	April 13
Settlement date:	April 20
Underwriter:	RBC Capital Markets LLC
Fees:	None
Cusip:	78012KNF0

© 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.