Published on 4/30/2024 in the Prospect News Structured Products Daily.
New Issue: RBC sells $11.68 million accelerated return notes on iShares ETF
By William Gullotti
Buffalo, N.Y., April 30 – Royal Bank of Canada priced $11.68 million of 0% Accelerated Return Notes due June 27, 2025 linked to the iShares U.S. Aerospace & Defense ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any ETF gain, capped at par plus 13%. Investors will be exposed to any ETF decline.
BofA Securities, Inc. is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying ETF: | iShares U.S. Aerospace & Defense ETF
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Amount: | $11,676,010
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Maturity: | June 27, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any ETF gain, capped at par plus 13%; exposure to any ETF decline
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Initial value: | $129.01
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Pricing date: | April 25
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Settlement date: | May 2
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Underwriter: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 78016R652
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