Published on 3/17/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $500,000 buffered enhanced return notes linked to index basket
Chicago, March 18 – Royal Bank of Canada priced $500,000 of 0% buffered enhanced return notes due March 9, 2026 linked to an unequally weighted 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 38% weight, the Topix index with a 34% weight, the FTSE 100 index with a 16% weight and the Swiss Market index with a 12% weight.
If the basket return is positive, the payout at maturity will be par plus 160.7% of the return.
Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that the basket declines beyond 10%.
RBC Capital Markets, LLC is the selling agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying indexes: | Euro Stoxx 50 index (38% weight), Topix index (34% weight), FTSE 100 index (16% weight), Swiss Market index (12% weight)
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Amount: | $500,000
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Maturity: | March 9, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket return is positive, par plus 160.7% of basket return; par if basket declines by 10% or less; otherwise, 1% loss for every 1% that basket declines beyond 10%
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Initial levels: | 4,912.92 for Stoxx, 2,706.28 for Topix, 7,640.33 for FTSE, 11,477.80 for Swiss
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Buffer level: | 90% of initial level
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Pricing date: | March 4
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Settlement date: | March 7
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 1.75%
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Cusip: | 78017FKA0
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