Published on 4/26/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.2 million leveraged buffered index-linked notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, April 26 – Royal Bank of Canada priced $1.2 million of 0% leveraged buffered index-linked notes due Oct. 24, 2025 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 1.5 times the gain, up to a maximum payout of par plus 16.275%.
If the index finishes flat or falls by up to 15%, investors will receive par. Otherwise, investors will lose 1.1765% for every 1% decline beyond 15%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $1,196,000
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Maturity: | Oct. 24, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes above initial level, par plus 1.5 times index gain, capped at par plus 16.275%; if index finishes flat or falls by up to 15%, par; 1.1765% loss for every 1% decline beyond 15%
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Initial index levels: | 5,010.6
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Buffer level: | 85%
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Pricing date: | April 22
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Settlement date: | April 29
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Agent: | RBC Capital Markets, LLC
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Fees: | 1.51%
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Cusip: | 78017FUB7
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