Published on 11/7/2022 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.61 million buffered return notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Nov. 7 – Royal Bank of Canada priced $2.61 million of 0% buffered return notes due June 5, 2025 linked to the S&P 500 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. Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered return notes
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Underlying index: | S&P 500
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Amount: | $2,608,000
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Maturity: | June 5, 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; par if the index declines by 15% or less; 1% loss for every 1% index decline beyond 15%
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Initial level: | 3,759.69
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Buffer level: | 3,195.74; 85% of initial level
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Pricing date: | Nov. 2
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Settlement date: | Nov. 7
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0.5%
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Cusip: | 78016FZH0
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