Published on 12/23/2020 in the Prospect News Structured Products Daily.
New Issue: RBC prices $5.35 million leveraged buffered basket-linked notes on indexes
By Cady Vishniac
Detroit, Dec. 23 – Royal Bank of Canada priced $5.35 million of 0% leveraged buffered notes due July 13, 2022 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 29% weight, the FTSE 100 index with a 16% weight, the Swiss Market index with a 11% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par of $1,000 plus 130% of the basket return, capped at a maximum settlement amount of $1,186.94 per note.
Investors will receive par if the basket declines by up to 10% and will share in any losses beyond 10% at a rate of 1.1111% per 1% decline beyond the 10% buffer.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Leveraged buffered basket-linked notes
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Underlying basket: | Euro Stoxx 50 (36% weight), FTSE 100 (29% weight), Topix (16% weight), Swiss Market (11% weight) and S&P/ASX 200 (8% weight)
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Amount: | $5,351,000
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Maturity: | July 13, 2022
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If basket return is positive, par plus 130% of the basket return, capped at $1,186.94 per note; par for declines up to 10%; 1.1111% loss per 1% decline beyond 10% buffer
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Initial index levels: | 3,545.74 for Stoxx, 1,793.24 for Topix, 6,529.18 for FTSE, 10,523.86 for Swiss Market, 6,675.468 for S&P/ASX 200
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Pricing date: | Dec. 18
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Settlement date: | Dec. 28
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Agent: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78016EXK8
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