Published on 7/8/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.79 million buffered enhanced return notes linked to S&P, Russell
By William Gullotti
Buffalo, N.Y., July 8 – Royal Bank of Canada priced $1.79 million of 0% buffered enhanced return notes due Nov. 30, 2022 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index return is positive, the payout at maturity will be par plus 150% of the return, capped at par plus 16%. Investors will receive par if the lesser-performing index declines by 10% or less and will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
RBC Capital Markets, Inc. is the selling agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $1,787,000
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Maturity: | Nov. 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is positive, par plus 150% of lesser-performing index return, capped at par plus 16%; par if index declines by 10% or less; 1% loss for every 1% that lesser-performing index declines beyond 10%
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Initial levels: | 4,188.13 for S&P, 2,205.75 for Russell
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Buffer levels: | 3,769.32 for S&P, 1,985.175 for Russell; 90% of initial levels
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Pricing date: | May 25
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Settlement date: | May 28
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Selling agent: | RBC Capital Markets, Inc.
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Fees: | 1.75%
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Cusip: | 78016EQ42
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