US Wrap: RBC launches kick-out on Nasdaq 100 ETF

Royal Bank of Canada (RBC) has joined in the increasingly popular trend of structuring notes on exchange-traded funds. It has launched a new kick-out product linked to the Powershares QQQ Trust, which replicates the performance of the Nasdaq 100 index. The structure will kick out with a return of 15% after two years if the fund is at or above its level when the product opened. It incorporates a 15% downside buffer, beyond which participation in downside performance of the fund is 1:1. Reverse

To continue reading...