Published on 4/24/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.5 million buffered enhanced return notes linked to Russell 2000
By Wendy Van Sickle
Columbus, Ohio, April 24 – Royal Bank of Canada priced $1.5 million of 0% buffered enhanced return notes due May 22, 2025 linked to the Russell 2000 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 200% of the return, capped at par plus 16%.
Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
RBC Capital Markets, LLC is the selling agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying index: | Russell 2000 index
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Amount: | $1.5 million
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Maturity: | May 22, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return, capped at par plus 16%; par if index declines by 10% or less; 1% loss for every 1% of index decline beyond 10%
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Initial level: | 1,942.958
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Buffer level: | 1,748.662; 90% of initial level
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Pricing date: | April 18
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Settlement date: | April 23
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78017FUE1
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