Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.37 million barrier enhanced return notes linked to iShares ETF, Stoxx index
By William Gullotti
Buffalo, N.Y., Feb. 2 – Royal Bank of Canada priced $1.37 million of 0% barrier enhanced return notes due Jan. 22, 2029 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing underlier return is positive, the payout at maturity will be par plus 275% of the return of that underlier.
Investors will receive par if the lesser-performing underlier declines by 35% or less. Otherwise, investors will lose 1% for every 1% that the lesser-performing underlier 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 assets: | iShares MSCI EAFE ETF, Euro Stoxx 50 index
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Amount: | $1.37 million
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Maturity: | Jan. 22, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each underlier return is positive, par plus 275% of lesser-performing underlier return; par if lesser-performing underlier declines by 35% or less; otherwise, 1% loss for every 1% that lesser-performing underlier declines from initial level
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Initial levels: | $73.11 for ETF, 4,403.08 for Stoxx
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Barrier levels: | $47.52 for ETF, 2,862.0 for Stoxx; 65% of initial levels
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Pricing date: | Jan. 17
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Settlement date: | Jan. 22
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 0.55%
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Cusip: | 78017FCD3
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