Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.36 million contingent market-linked securities tied to three indexes
By William Gullotti
Buffalo, N.Y., April 25 – Royal Bank of Canada priced $2.36 million of 0% market-linked securities – leveraged upside participation and contingent downside due April 3, 2029 linked to the performance of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes flat or positive, the payout at maturity will be par plus 1.6 times the return of the lowest performing index.
Investors will receive par if the worst performer declines up to 25% and be fully exposed to the decline of the worst performer if it declines beyond 25%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Market-linked securities – leveraged upside participation and contingent downside
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Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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Amount: | $2,364,000
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Maturity: | April 3, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes flat or positive, par plus 1.6 times the return of the lowest performing index; if worst performer falls up to 25%, par; otherwise, 1% loss for every 1% decline of worst performer from initial level
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Initial levels: | 5,254.35 for S&P, 2,124.547 for Russell, 39,807.37 for Dow
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Threshold levels: | 3,940.7625 for S&P, 1,593.41025 for Russell, 29,855.5275 for Dow; 75% of initial levels
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Pricing date: | March 28
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Settlement date: | April 2
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Agent: | Wells Fargo Securities, LLC
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Fees: | 3.87%
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Cusip: | 78017FHZ9
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