Published on 8/15/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.82 million buffered enhanced return notes linked to Nasdaq
Chicago, Aug. 15 – Royal Bank of Canada priced $1.82 million of 0% buffered enhanced return notes due July 30, 2026 linked to the Nasdaq-100 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 120% of the return, capped at par plus 38%.
Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that the index declines beyond 15%.
RBC Capital Markets, LLC is the selling agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying index: | Nasdaq-100 index
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Amount: | $1,821,000
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Maturity: | July 30, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 120% of index return, capped at par plus 38%; par if index declines by 15% or less; 1% loss for every 1% of index decline beyond 15%
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Initial level: | 15,499.26
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Buffer level: | 13,174.37; 85% of initial level
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Pricing date: | July 26
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Settlement date: | July 31
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 3.65%
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Cusip: | 78016NNP8
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