Published on 7/6/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.56 million leveraged capped market-linked buffered securities tied to Stoxx
By William Gullotti
Buffalo, N.Y., July 6 – Royal Bank of Canada priced $1.56 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 6, 2026 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, payout at maturity will be par plus double any index gain, subject to a maximum return of 35%.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Royal Bank of Canada
|
Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
|
Underlying index: | Euro Stoxx 50 index
|
Amount: | $1.56 million
|
Maturity: | Jan. 6, 2026
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index return is positive, par plus two times any index gain, subject to a maximum return of par plus 35%; if the index falls by up to 15%, par; 1% for each 1% decline in index beyond 15%
|
Initial level: | 4,354.69
|
Buffer level: | 3,701.4865; 85% of initial level
|
Pricing date: | June 29
|
Settlement date: | July 5
|
Agent: | Wells Fargo Securities, LLC
|
Fees: | 2.575%
|
Cusip: | 78016NDS3
|
|
© 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.