Published on 3/21/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $958,000 barrier enhanced return notes linked to EAFE ETF, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., March 21 – Royal Bank of Canada priced $958,000 of 0% barrier enhanced return notes due July 6, 2028 linked to the iShares MSCI EAFE ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser performing asset’s final level is greater than its initial level, the payout at maturity will be par plus 224.8% of that asset’s return.
If the lesser performing asset’s final level is less than or equal to its initial level but greater than or equal to its barrier level, 60% of its initial level, the payout will be par.
If the lesser performing asset’s final level is less than its barrier level, investors will lose 1% for every 1% that the lesser performing asset’s final level is less than its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Barrier enhanced return notes
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| Underlying assets: | iShares MSCI EAFE ETF and Euro Stoxx 50 index
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| Amount: | $958,000
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| Maturity: | July 6, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser performing asset’s final level is greater than initial level, par plus 224.8% of that asset’s return; if lesser performing asset declines but finishes at or above barrier level, par; otherwise, 1% loss for every 1% that lesser performing asset’s final level is less than initial level
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| Initial levels: | $72.50 for ETF and 4,399.09 for index
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| Barrier levels: | $43.50 for ETF and 2,639.45 for index, or 60% of initial levels
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 0.75%
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| Cusip: | 78016NHS9
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