By William Gullotti
Buffalo, N.Y., Feb. 1 – Royal Bank of Canada priced $1.93 million of 0% capped notes due Jan. 26, 2024 linked to a weighted basket of two commodity trusts, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR Gold Shares with a 75% weight and the iShares Silver Trust with a weight of 25%.
If the basket return is positive, the payout at maturity will be par plus 200% of the basket return, capped at par plus 11.7%.
If the basket falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline beyond 10%.
BofA Securities, Inc. is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Capped notes
|
| Underlying basket: | SPDR Gold Shares (75% weight), iShares Silver Trust (25% weight)
|
| Amount: | $1.93 million
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| Maturity: | Jan. 26, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket return is positive, par plus 200% of the basket return, capped at par plus 11.7%; if basket falls by up to 10%, par; 1% loss for every 1% decline beyond 10%
|
| Initial levels: | $167.60 for Gold, $21.02 for Silver
|
| Buffer level: | 90% of initial level
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| Pricing date: | Jan. 27
|
| Settlement date: | Feb. 3
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| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 78015B740
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