Published on 10/6/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.11 million buffer digital return notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 6 – Royal Bank of Canada priced $1.11 million of 0% buffer digital return notes due Oct. 8, 2026 linked to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 36.5% if the laggard index finishes at or above its 90% buffer level.
Otherwise, investors will lose 1% for every 1% that the laggard index declines beyond 10%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffer digital return notes
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $1.11 million
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Maturity: | Oct. 8, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 36.5% if laggard index finishes at or above buffer level; otherwise, lose 1% for every 1% that the laggard index declines beyond 10%
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Initial levels: | 4,229.45 for S&P, 1,727.153 for Russell
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Buffer levels: | 3,806.51 for S&P, 1,554.438 for Russell; 90% of initial levels
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Pricing date: | Oct. 3
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Settlement date: | Oct. 6
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.5%
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Cusip: | 78016NJ65
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