Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: RBC sells $3.4 million capped buffered return enhanced notes on Nasdaq
By William Gullotti
Buffalo, N.Y., Feb. 27 – Royal Bank of Canada priced $3.4 million of capped buffered return enhanced notes due Feb. 20, 2024 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 the index gain, subject to a maximum payout of par plus 22.81%.
If the index declines by up to 15%, the payout will be par. Otherwise, investors will lose 1.1765% for each 1% decline beyond 15%.
RBC Capital Markets, LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA acting as the placement agents.
Issuer: | Royal Bank of Canada
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Issue: | Capped buffered return enhanced notes
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Underlying index: | Nasdaq-100 index
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Amount: | $3,404,000
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Maturity: | Feb. 20, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, the payout at maturity will be par plus the index gain, capped at par plus 22.81%; if the index declines by up to 15%, par; otherwise, investors will lose 1.1765% for each 1% decline beyond 15%
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Initial level: | 12,304.92
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Buffer level: | 10,459.18; 85% of initial level
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Pricing date: | Feb. 10
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Settlement date: | Feb. 27
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Agent: | RBC Capital Markets, LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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Fees: | None
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Cusip: | 78016HSM3
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