New Issue: RBC prices $1.52 million buffered return notes tied to a basket of tech stocks

By William Gullotti

Buffalo, N.Y., Oct. 30 – Royal Bank of Canada priced $1.52 million of 0% buffered return notes due Nov. 29, 2024 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of Microsoft Corp., Meta Platforms, Inc., Amazon.com, Inc., Apple Inc. and Netflix, Inc.

If the basket finishes at or above its initial level, the payout at maturity will be par plus the basket gain with a maximum return of 16.35%.

If the basket falls by up to 20%, the payout will be par.

Otherwise, investors will lose 1% for each 1% basket decline beyond 20%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered return notes
Underlying basket:	Microsoft Corp., Meta Platforms, Inc., Amazon.com, Inc., Apple Inc., Netflix, Inc.; equal weights
Amount:	$1,515,000
Maturity:	Nov. 29, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If basket gains, par plus the basket return capped at 16.35%; if basket falls by up to 20%, par; otherwise, 1% loss per 1% decline beyond 20%
Initial levels:	$330.53 for Microsoft, $312.55 for Meta, $128.56 for Amazon, $173.44 for Apple, $413.73 for Netflix
Barrier level:	80% of initial level
Pricing date:	Oct. 24
Settlement date:	Oct. 27
Underwriter:	RBC Capital Markets, LLC
Fees:	0.65%
Cusip:	78016NV20

© 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.