Published on 5/2/2018 in the Prospect News Structured Products Daily.
New Issue: RBC sells $4.74 million leveraged notes linked to S&P 500
By Susanna Moon
Chicago, May 2 – Royal Bank of Canada priced $4.61 million of 0% leveraged notes due March 27, 2020 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 300% of any index gain, up to a maximum settlement amount of $1,264 for each $1,000 principal amount.
Investors will be exposed to any losses.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Leveraged notes
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Underlying index: | S&P 500
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Amount: | $4,735,000
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Maturity: | March 27, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any index gain, capped at 26.4%; 1% loss for each 1% decline
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Initial level: | 2,639.40
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Pricing date: | April 25
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Settlement date: | May 2
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Agent: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78013XJU3
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