Published on 4/26/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.01 million buffered enhanced return notes on stock basket
By Wendy Van Sickle
Columbus, Ohio, April 26 – Royal Bank of Canada priced $1.01 million of 0% buffered enhanced return notes due April 27, 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 common stocks of Archer-Daniels-Midland Co. with a 33.33% weight, Cisco Systems, Inc. with a 33.33% weight and Paycom Software, Inc. with a 33.33% weight.
If the basket return is positive, the payout at maturity will be par plus 200% of the return, up to par plus 50%.
Investors will receive par if the basket declines by 20% or less and will lose 1% for every 1% that the basket declines beyond 20%.
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: | Archer-Daniels-Midland Co. (33.33% weight), Cisco Systems, Inc. (33.33% weight), Paycom Software, Inc. (33.33% weight)
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Amount: | $1,006,000
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Maturity: | April 27, 2027
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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 200% of basket return, up to par plus 50%; par if basket declines by 20% or less; otherwise, 1% loss for every 1% that basket declines beyond 20%
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Initial levels: | $62.50 for Archer-Daniels-Midland, $48.14 for Cisco, $186.71 for Paycom
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Buffer level: | 80% of initial level
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Pricing date: | April 22
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Settlement date: | April 25
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 0.75%
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Cusip: | 78017FU76
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