Published on 4/9/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.11 million barrier enhanced return notes linked to S&P, Russell
By William Gullotti
Buffalo, N.Y., April 9 – Royal Bank of Canada priced $1.11 million of 0% barrier enhanced return notes due April 6, 2029 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index return is positive, the payout at maturity will be par plus 148% of the return. Investors will receive par if the lesser-performing index declines by 30% or less and will lose 1% for every 1% that the lesser-performing index declines from initial level.
RBC Capital Markets, LLC is the selling agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier enhanced return notes
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $1,108,000
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Maturity: | April 6, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is positive, par plus 148% of lesser-performing index return; par if index declines by 30% or less; 1% loss for every 1% that lesser-performing index declines from initial level
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Initial levels: | 5,211.49 for S&P, 2,076.203 for Russell
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Barrier levels: | 3,648.04 for S&P, 1,453.342 for Russell; 70% of initial levels
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Pricing date: | April 3
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Settlement date: | April 8
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 0.724%
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Cusip: | 78017FNJ8
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