Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $500,000 barrier enhanced return notes linked to S&P, Dow
By Kiku Steinfeld
Chicago, Oct. 2 – Royal Bank of Canada priced $500,000 of 0% barrier enhanced return notes due March 20, 2026 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 125% of the return, capped at 157.7% of par.
Investors will receive par if the lesser-performing index declines by 40% 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: | $500,000
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Maturity: | March 20, 2026
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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 125% of lesser-performing index return, capped at 157.7% of par; par if index declines by 40% or less; otherwise, 1% loss for every 1% that lesser-performing index declines from initial level
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Initial levels: | 3,916.64 for S&P, 31,861.98 for Dow
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Barrier levels: | 2,349.98 for S&P, 19,117.19 for Dow; 60% of initial levels
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Pricing date: | March 17, 2023
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Settlement date: | March 22, 2023
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 0.5%
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Cusip: | 78016HVF4
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