Published on 7/25/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $391,000 barrier enhanced return notes linked to iShares ETF, Stoxx index
By William Gullotti
Buffalo, N.Y., July 25 – Royal Bank of Canada priced $391,000 of 0% barrier enhanced return notes due July 24, 2028 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing underlier return is positive, the payout at maturity will be par plus 230% of the return of that underlier.
Investors will receive par if the lesser-performing underlier declines by 35% or less. Otherwise, investors will lose 1% for every 1% that the lesser-performing underlier declines from initial level.
RBC Capital Markets, LLC is the selling agent.
Issuer: | Royal Bank of Canada
|
Issue: | Barrier enhanced return notes
|
Underlying assets: | iShares MSCI EAFE ETF, Euro Stoxx 50 index
|
Amount: | $391,000
|
Maturity: | July 24, 2028
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If each underlier return is positive, par plus 230% of lesser-performing underlier return; par if lesser-performing underlier declines by 35% or less; otherwise, 1% loss for every 1% that lesser-performing underlier declines from initial level
|
Initial levels: | $74.21 for ETF, 4,362.28 for Stoxx
|
Barrier levels: | $48.24 for ETF, 2,835.48 for Stoxx; 65% of initial levels
|
Pricing date: | July 19
|
Settlement date: | July 24
|
Selling agent: | RBC Capital Markets, LLC
|
Fees: | 0.55%
|
Cusip: | 78016NNE3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.