Published on 8/27/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $475,000 capped barrier return notes on a basket of seven stocks
By William Gullotti
Buffalo, N.Y., Aug. 27 – Royal Bank of Canada priced $475,000 of capped barrier return notes due July 7, 2022 linked to an equally weighted basket of the common equity securities of Adobe Inc., Amazon.com, Inc., salesforce.com, inc., Alphabet Inc., Honeywell International Inc., Lam Research Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the final basket level is greater than the initial level, the payout at maturity will be par plus the return, capped at par plus 13.76%.
If the final basket level is less than or equal to the initial price but greater than or equal to the barrier level, 85% of the initial level, the payout will be par.
If the final basket level is less than the barrier level, investors will lose 1% for every 1% that the basket declines from its initial level.
RBC Amazon Markets, LLC is the agent.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
Issuer: | Royal Bank of Canada
|
Issue: | Issuer callable barrier notes
|
Underlying stocks: | Adobe Inc., Amazon.com, Inc., salesforce.com, inc., Alphabet Inc., Honeywell International Inc., Lam Research Corp., Microsoft Corp.; equal weights
|
Amount: | $475,000
|
Maturity: | July 7, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If final basket level is greater than initial level, par plus the return, capped at par plus 13.76%; if final basket level is less than or equal to initial level but greater than or equal to barrier level, par; if final basket level is less than barrier level, 1% loss for every 1% decline that basket declines from initial level
|
Initial prices: | $565.59 for Adobe, $3,486.90 for Amazon, $242.78 for salesforce, $2,402.22 for Alphabet, $212.50 for Honeywell, $612.66 for Lam, $259.43 for Microsoft
|
Barrier level: | 85% of initial level
|
Pricing date: | June 18
|
Settlement date: | June 23
|
Agent: | RBC Amazon Markets, LLC
|
Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
Fees: | 1%
|
Cusip: | 78016EBZ9
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.