Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.23 million notes linked to basket of 10 stocks
By William Gullotti
Buffalo, N.Y., April 25 – Royal Bank of Canada priced $2.23 million of 0% notes due Dec. 30, 2027 linked 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 American Tower Corp., Pfizer Inc., Chevron Corp., Duke Energy Corp., International Business Machines Corp., Coca-Cola Co., Lockheed Martin Corp., McDonald’s Corp., Procter & Gamble Co. and Verizon Communications Inc.
If the basket finishes at or above its initial level, the payout at maturity will be par plus the basket return.
Otherwise, investors will receive par.
RBC Capital Markets LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Notes
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| Underlying basket: | American Tower Corp., Pfizer Inc., Chevron Corp., Duke Energy Corp., International Business Machines Corp., Coca-Cola Co., Lockheed Martin Corp., McDonald’s Corp., Procter & Gamble Co., Verizon Communications Inc.; equal weights
|
| Amount: | $2,233,000
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| Maturity: | Dec. 30, 2027
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus any basket gain; otherwise, par
|
| Initial levels: | $195.56 for American Tower, $27.43 for Pfizer, $156.47 for Chevron, $94.84 for Duke, $188.79 for IBM, $60.40 for Coca-Cola, $446.31 for Lockheed Martin, $278.62 for McDonald's, $160.19 for P&G, $40.87 for Verizon
|
| Pricing date: | March 25
|
| Settlement date: | March 28
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.501%
|
| Cusip: | 78017FJP9
|
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