Published on 3/22/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.81 million notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., March 22 – Royal Bank of Canada priced $1.81 million of 0% notes due March 11, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return, capped at par plus 30.1%.
If the index return is zero or negative, the payout will be par.
RBC Capital Markets LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Notes
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Underlying index: | S&P 500 index
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Amount: | $1,809,000
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Maturity: | March 11, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at par plus 30.1%; otherwise, par
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Initial level: | 3,971.27
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Strike date: | March 6
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Pricing date: | March 8
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Settlement date: | March 12
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78017FME0
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