Published on 6/16/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.87 million geared buffered absolute return autocalls on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, June 16 – Royal Bank of Canada priced $4.87 million of 0% autocallable geared buffered absolute return notes due Dec. 17, 2024 linked to the worst performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus 11.9% pe year if each index closes at or above its initial level on any semiannual review date.
If the worst-performing index falls by up to 20%, investors will receive par plus the absolute value of its return. If the worst-performing index finishes below its buffer level, 80% of the initial price, investors will lose 1.25% for every 1% decline of the worst-performing index beyond 20%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable geared buffered absolute return notes
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| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $4,869,000
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| Maturity: | Dec. 17, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst-performing index falls by up to 20%, par plus absolute value of worst-performing index return; 1.25% loss for every 1% decline of worst-performing index beyond 20%
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| Call: | Automatically at par plus 11.9% per year if each index closes at or above initial level on any semiannual review date
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| Initial levels: | 14,784.3 for Nasdaq, 1,873.214 for Russell
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| Buffer levels: | 11,827.44 for Nasdaq, 1,498.571 for Russell; 80% of initial levels
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| Strike date: | June 12
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| Pricing date: | June 13
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| Settlement date: | June 16
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 0.05%
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| Cusip: | 78016NHR1
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