Published on 8/22/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.18 million buffered enhanced return notes linked to index basket
By William Gullotti
Buffalo, N.Y., Aug. 22 – Royal Bank of Canada priced $2.18 million of 0% buffered enhanced return notes due Sept. 21, 2023 linked to an equally weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index.
If the basket return is positive, the payout at maturity will be par plus 300% of the return, subject to a maximum payout of par plus 16.8%.
Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that the basket 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 indexes: | Dow Jones industrial average, Nasdaq-100 index, Russell 2000 index; equal weights
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Amount: | $2.18 million
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Maturity: | Sept. 21, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket return is positive, par plus 300% of basket return, capped at par plus 16.8%; par if basket declines by 10% or less; otherwise, 1% loss for every 1% that basket declines beyond 10%
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Initial levels: | 34,152.01 for Dow, 13,635.21 for Nasdaq, 2,020.529 for Russell
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Buffer level: | 90% of initial level
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Strike date: | Aug. 16
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Pricing date: | Aug. 17
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Settlement date: | Aug. 22
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 0.05%
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Cusip: | 78016FS62
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