Published on 5/1/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $810,000 buffered digital notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 1 – Royal Bank of Canada priced $810,000 of 0% buffered digital notes due July 17, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the buffer level, 80% of the initial index level, the payout at maturity will be par plus 16.2%. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered digital notes
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Underlying index: | S&P 500 index
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Amount: | $810,000
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Maturity: | July 17, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to buffer level, par plus 16.2%; otherwise, 1% loss for every 1% that index declines beyond 20%
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Initial level: | 4,505.42
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Buffer level: | 3,604.34, or 80% of initial level
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Pricing date: | July 14, 2023
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Settlement date: | July 19, 2023
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Agent: | RBC Capital Markets, LLC
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Fees: | 0%
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Cusip: | 78016NMP9
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