Chicago, March 29 – Royal Bank of Canada priced $2 million of 0% autocallable barrier enhanced return notes due March 1, 2023 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund is above its initial level on Feb. 22, 2022, the notes will be automatically redeemed early for $1,205 per $1,000 note.
If the notes are not redeemed early, the payout at maturity will be par plus 150% of any fund gain.
Investors will receive par if the fund falls by up to 25%. Otherwise, investors will receive a number of shares of the fund equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable barrier enhanced return notes
|
| Underlying ETF: | Energy Select Sector SPDR fund
|
| Amount: | $2,000,000
|
| Maturity: | March 1, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any fund gain; par if fund falls by up to 25%; otherwise, investors will receive 19.88 Energy Select shares or cash equivalent
|
| Call: | Automatically at $1,205 per note if the fund is above its initial level on Feb. 22, 2022
|
| Initial price: | $50.29
|
| Barrier price: | $37.72, or 75% of initial price
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 26
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.25%
|
| Cusip: | 78013GJ63
|
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