Published on 5/11/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $38.61 million leveraged notes linked to Russell 2000
By Wendy Van Sickle
Columbus, Ohio, May 11 – Royal Bank of Canada priced $38.61 million of 0% leveraged notes due Aug. 7, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 3 times any index gain up to $1,240 for each $1,000 principal amount.
Otherwise, investors will be fully exposed to index’s decline from its initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Leveraged notes
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Underlying index: | Russell 2000
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Amount: | $38,606,000
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Maturity: | Aug. 7, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 3 times any index gain up to $1,240 for each $1,000 principal amount; full exposure to loss
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Initial level: | 1,749.677
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Pricing date: | May 9
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Settlement date: | May 16
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Agent: | RBC Capital Markets, LLC
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Fees: | 1.33%
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Cusip: | 78016NAS6
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