Published on 2/26/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.1 million 10% fixed coupon barrier notes tied to stock basket
By William Gullotti
Buffalo, N.Y., Feb. 26 – Royal Bank of Canada priced $2.1 million of 10% fixed coupon barrier notes due Feb. 25, 2025 tied to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Devon Energy Corp., Halliburton Co., and Marathon Oil Corp.
Interest is payable monthly.
The payout at maturity will be par unless the basket finishes below its 70% barrier level, in which case investors will lose 1% for every 1% decline from the basket’s initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Fixed coupon barrier notes
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Underlying stocks: | Devon Energy Corp., Halliburton Co., Marathon Oil Corp.; equal weights
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Amount: | $2.1 million
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Maturity: | Feb. 25, 2025
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Coupon: | 10% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par unless basket finishes below barrier level, in which case investors will lose 1% for every 1% decline from the basket’s initial level
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Initial levels: | $43.41 for Devon, $35.13 for Halliburton, $23.17 for Marathon
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Barrier level: | 70% of initial level
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Pricing date: | Feb. 20
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Settlement date: | Feb. 23
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Agent: | RBC Capital Markets, LLC
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Fees: | 1.25%
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Cusip: | 78017FGZ0
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