Published on 8/30/2023 in the Prospect News Structured Products Daily.
New Issue: RBC sells $500,000 autocallable contingent coupon barrier notes on two indexes
Chicago, July 30 – Royal Bank of Canada sold $500,000 of autocallable contingent coupon barrier notes due Aug. 28, 2025 linked to the lesser performing of the Dow Jones industrial average index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 6.5% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that period.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless either index finishes below the 60% barrier level, in which case investors will lose 1% for each 1% that the lesser-performing index’s final level from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
|
| Underlying indexes: | Dow Jones industrial average and Russell 2000 index
|
| Amount: | $500,000
|
| Maturity: | Aug. 28, 2025
|
| Coupon: | 6.5% annual rate, payable quarterly if each index closes at or above coupon barrier level on observation date for that period
|
| Level: | Par
|
| Payout at maturity: | Par plus coupon unless either index finishes below barrier level, in which case investors will lose 1% for each 1% that the lesser-performing index declines from the initial level
|
| Call: | Automatically at par if each index closes at or above its initial level on any quarterly observation date
|
| Initial index levels: | 32,969.23 for Dow, 1,935.286 for Russell
|
| Coupon barrier levels: | 19,781.54 for Dow, 1,161.172 for Russell; 60% of initial levels
|
| Buffer levels: | 19,781.54 for Dow, 1,161.172 for Russell; 60% of initial levels
|
| Pricing date: | Aug. 24, 2022
|
| Settlement date: | Aug. 29, 2022
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 1.65%
|
| Cusip: | 78016FSW5
|
|
|
© 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.
