Published on 7/28/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $12.8 million autocallable barrier notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, July 28 – Royal Bank of Canada priced $12.8 million of 0% autocallable barrier notes due June 26, 2026 linked to the Russell 2000 index, the S&P 500 index and the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an annualized 9.3% premium if all indexes finish above their initial levels on any quarterly observation date after six months.
If the notes are not called and all indexes close above their initial levels, the payout at maturity will be par plus the return of the least performing index.
If the worst performer declines but finishes above 75% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable barrier notes
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| Underlying indexes: | S&P 500 index, FTSE 100 index, Russell 2000
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| Amount: | $12,797,000
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| Maturity: | June 26, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish positive, par plus return of worst performer; par if at least one index declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index
|
| Call: | At par plus annualized premium of 9.3% if each index finishes above initial level on any quarterly observation date after six months
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| Initial levels: | 4,258.49 for S&P, 6,844.39 for FTSE, 2,130.68 for Russell
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| Trigger levels: | 3,193.87 for S&P, 5,133.29 for FTSE, 1,598.01 for Russell; 75% of initial levels
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| Pricing date: | July 19
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| Settlement date: | July 22
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.75%
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| Cusip: | 78016EKD8
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