Published on 7/8/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.12 million barrier booster notes linked to S&P, Stoxx
By William Gullotti
Buffalo, N.Y., July 8 – Royal Bank of Canada priced $2.12 million of 0% barrier booster notes due May 28, 2027 linked to the worse performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the lesser performing index is greater than 55%, the payout at maturity will be par plus the return of the lesser performing index.
If the return of the lesser performing index is positive but does not exceed 55%, the payout will be par plus 55%.
If the lesser performing index finishes flat or falls by up to 40%, the payout will be par.
If the lesser performing index falls by more than 40%, investors will lose 1% for every 1% decline of the lesser performing index below its the initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
|
Issue: | Barrier booster notes
|
Underlying indexes: | S&P 500 index, Euro Stoxx 50 index
|
Amount: | $2,118,000
|
Maturity: | May 28, 2027
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If lesser performing index gains by more than 55%, par plus that gain; if lesser performing index increases by up to 55%, par plus 55%; if lesser performing index finishes flat or falls by up to 40%, par; if lesser performing index falls by more than 40%, full exposure to decline
|
Initial levels: | 4,036.04 for Stoxx, 4,188.13 for S&P
|
Barrier levels: | 2,421.62 for Stoxx, 2,512.88 for S&P; 60% of initial levels
|
Pricing date: | May 25
|
Settlement date: | May 28
|
Agent: | RBC Capital Markets, LLC
|
Fees: | 3.25%
|
Cusip: | 78016EM46
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.