Chicago, Sept. 12 – Royal Bank of Canada priced $1.09 million of 0% buffered absolute return notes due Sept. 3, 2025 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the notes are not called and the final ETF level is greater than or equal to its initial level, the payout at maturity will be par plus two times the ETF return capped at 24%.
If the ETF falls by up to 20%, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for every 1% decline beyond 20%.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered absolute return notes
|
| Underlying fund: | Energy Select Sector SPDR fund
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| Amount: | $1,090,000
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| Maturity: | Sept. 3, 2025
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | Par plus two times ETF return if ETF gains or finishes flat, capped at par plus 24%; if ETF falls by up to 20%, par plus absolute value of the return; otherwise, 1% loss for each 1% decline beyond 20%
|
| Initial level: | $88.18
|
| Buffer level: | $70.54; 80% of initial level
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78016NSP3
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