Published on 5/1/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $5.1 million buffered enhanced return notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., May 1 – Royal Bank of Canada priced $5.1 million of 0% buffered enhanced return notes due May 29, 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 150% of the return, capped at par plus 13.9%.
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: | S&P 500 index
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Amount: | $5,096,000
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Maturity: | May 29, 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 150% of index return, capped at par plus 13.9%; par if index declines by 10% or less; 1% loss for every 1% of index decline beyond 10%
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Initial level: | 5,123.41
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Buffer level: | 4,611.07; 90% of initial level
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Strike date: | April 12
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Pricing date: | April 15
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Settlement date: | April 18
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 0.6%
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Cusip: | 78017FU68
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