Published on 5/1/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.6 million digital plus absolute return notes with barrier on three indexes
By William Gullotti
Buffalo, N.Y., May 1 – Royal Bank of Canada priced $2.6 million of 0% digital plus absolute return notes with barrier due April 12, 2029 tied to the performance of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least-performing index finishes flat or gains, the payout at maturity will be the greater of par plus the return of that index and par plus the 38% digital return.
If the worst performer declines by no more than 35%, investors will gain 1% for each 1% decline of that index.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Digital plus absolute return notes with barrier
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $2,601,000
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| Maturity: | April 12, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the least-performing index finishes flat or gains, the greater of par plus that index’s return and par plus the 38% digital return; if the worst performer declines by no more than 35%, par plus the absolute value of the return of that index; otherwise, full exposure to decline of worst performer
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| Initial levels: | 38,892.8 for Dow, 2,073.713 for Russell, 5,202.39 for S&P
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| Barrier levels: | 25,280.32 for Dow, 1,347.913 for Russell, 3,381.55 for S&P; 65% of initial levels
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| Pricing date: | April 8
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| Settlement date: | April 11
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.5%
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| Cusip: | 78017FPR8
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