By William Gullotti
Buffalo, N.Y., Oct. 10 – Royal Bank of Canada priced $1 million of 0% buffered enhanced return notes due Dec. 4, 2024 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 200% of the return, subject to a maximum payout of par plus 21%.
Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that the ETF declines beyond 10%.
RBC Capital Markets, LLC is the selling agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered enhanced return notes
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| Underlying fund: | Energy Select Sector SPDR Fund
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| Amount: | $1 million
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| Maturity: | Dec. 4, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF return is positive, par plus 200% of ETF return, capped at par plus 21%; par if ETF declines by 10% or less; 1% loss for every 1% of ETF decline beyond 10%
|
| Initial level: | $90.39
|
| Buffer level: | $81.35; 90% of initial level
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
|
| Selling agent: | RBC Capital Markets, LLC
|
| Fees: | 2%
|
| Cusip: | 78016NJ73
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