Published on 10/11/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.27 million barrier enhanced return notes linked to S&P, Dow
By William Gullotti
Buffalo, N.Y., Oct. 12 – Royal Bank of Canada priced $4.27 million of 0% barrier enhanced return notes due Sept. 30, 2027 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index return is positive, the payout at maturity will be par plus 117% of the return. Investors will receive par if the lesser-performing index declines by 30% or less and will lose 1% for every 1% that the lesser-performing index declines from initial level.
RBC Capital Markets, LLC is the selling agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier enhanced return notes
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Underlying indexes: | S&P 500 index, Dow Jones industrial average
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Amount: | $4,268,000
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Maturity: | Sept. 30, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is positive, par plus 117% of lesser-performing index return; par if lesser-performing index declines by 30% or less; 1% loss for every 1% that lesser-performing index declines from initial level
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Initial levels: | 4,443.11 for S&P, 34,869.37 for Dow
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Barrier levels: | 3,110.18 for S&P, 24,408.56 for Dow; 70% of initial levels
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Pricing date: | Sept. 27
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Settlement date: | Sept. 30
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78016E3D7
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