Published on 8/18/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.9 million capped upside participation market-linked securities on S&P
By William Gullotti
Buffalo, N.Y., Aug. 18 – Royal Bank of Canada priced $2.9 million of 0% market-linked securities with capped upside participation and fixed percentage buffered downside due Nov. 18, 2025 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 any index gain, subject to a maximum return of par plus 40%.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Market-linked securities, upside participation to a cap and fixed percentage buffered downside
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Underlying index: | S&P 500 index
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Amount: | $2,904,000
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Maturity: | Nov. 18, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 40%; if the index falls by up to 15%, par; otherwise, lose 1% for each 1% decline in index beyond 15%
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Initial level: | 4,297.14
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Buffer level: | 3,652.569; 85% of initial level
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Pricing date: | Aug. 15
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Settlement date: | Aug. 18
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Agent: | Wells Fargo Securities, LLC
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Fees: | 3.54%
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Cusip: | 78016FRD8
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