Published on 11/15/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.12 million barrier enhanced return notes linked to Stoxx indexes
By Wendy Van Sickle
Columbus, Ohio, Nov. 15 – Royal Bank of Canada priced $2.12 million of 0% barrier enhanced return notes due Nov. 12, 2027 linked to the Stoxx Europe 600 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index return is positive, the payout at maturity will be par plus 270% of the return. Investors will receive par if the lesser-performing index declines by 25% or less. If the lesser-performing index declines by more than 25%, investors will lose 1% for every 1% that the lesser-performing index declines from initial level.
RBC Capital Markets, LLC is the selling agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier enhanced return notes
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Underlying indexes: | Euro Stoxx 50 index, Stoxx Europe 600 index
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Amount: | $2,115,000
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Maturity: | Nov. 12, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is positive, par plus 270% of lesser-performing index return; par if lesser-performing index declines by 25% or less; otherwise, 1% loss for every 1% that lesser-performing index declines from initial level
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Initial levels: | 3,739.28 for Euro Stoxx 50, 421.61 for Stoxx Europe 600
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Barrier levels: | 2,804.46 for Euro Stoxx 50, 316.21 for Stoxx Europe 600; 75% of initial levels
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Pricing date: | Nov. 8
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Settlement date: | Nov. 14
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 0%
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Cusip: | 78016H4X5
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