Published on 9/12/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $106,000 autocallable contingent coupon buffer notes tied to Nasdaq
Chicago, Sept. 12 – Royal Bank of Canada priced $106,000 of autocallable contingent coupon buffer notes due March 3, 2025 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at a rate of 7.25% per year if the index closes above its 85% coupon barrier on the related observation date.
The notes will be called early at par starting after six months if the index closes above its initial level on any monthly observation date.
At maturity, investors will receive par if the index closes above its 85% buffer level.
Otherwise, investors will lose 1% for each 1% decline beyond the 15% buffer.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Autocallable contingent coupon buffer notes
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Underlying index: | Nasdaq-100 index
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Amount: | $106,000
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Maturity: | March 3, 2025
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Coupon: | 7.25% per year, payable monthly if index closes above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par if index closes above buffer level; otherwise, 1% loss for each 1% decline beyond 15% buffer
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Call: | Automatically at par if index closes above initial level on any monthly observation date starting after six months
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Initial index level: | 12,605.17
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Coupon barrier level: | 10,714.39, 85% of initial level
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Buffer level: | 10,714.39, 85% of initial level
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Pricing date: | Aug. 26, 2022
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Settlement date: | Aug. 31, 2022
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 2.4%
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Cusip: | 78016FQT4
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