Published on 2/7/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $400,000 barrier absolute enhanced return notes on Stoxx
Chicago, Feb. 7 – Royal Bank of Canada priced $400,000 of 0% barrier absolute enhanced return notes due May 24, 2029 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus 1.485 times the index return.
If the index declines up to the barrier level, 60% of the initial index level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to the losses of the index.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Barrier absolute enhanced return notes
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Underlying index: | Euro Stoxx 50 index
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Amount: | $400,000
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Maturity: | May 24, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above its initial level, par plus 1.485 times the index return; if index declines no more than 40%, par plus absolute value of index return; otherwise, full exposure to losses of index
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Initial index level: | 4,395.30
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Barrier level: | 2,637.18, 60% of initial level
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Pricing date: | May 19, 2023
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Settlement date: | May 24, 2023
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0%
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Cusip: | 78016NAH0
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