Published on 1/19/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.17 million digital notes with barrier linked to S&P, Dow, Russell
By William Gullotti
Buffalo, N.Y., Jan. 19 – Royal Bank of Canada priced $2.17 million of 0% digital notes with barrier due Feb. 18, 2025 tied to the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above downside threshold, 70% of initial level, the payout at maturity will be par plus the 8.2% digital payment.
If the worst performer finishes below its downside threshold but at or above the 50% digital barrier, the payout will be par plus the digital payment minus 1% for every 1% of that index’s decline from its initial level
Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is less than its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Digital notes with barrier
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average, Russell 2000 index
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| Amount: | $2,167,000
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| Maturity: | Feb. 18, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the worst performing index finishes at or above downside threshold, par plus 8.2% digital payment; if worst performer falls below downside threshold but finishes at or above digital barrier, par plus digital payment less 1% for every 1% decline of that index from its initial level; otherwise, full exposure to decline of worst performer
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| Initial levels: | 4,783.83 for S&P, 37,592.98 for Dow, 1,950.964 for Russell
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| Digital barriers: | 2,391.92 for S&P, 18,796.49 for Dow, 975.482 for Russell; 50% of initial levels
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| Downside thresholds: | 3,348.68 for S&P, 26,315.09 for Dow, 1,365.675 for Russell; 70% of initial levels
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 18
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 0.25%
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| Cusip: | 78017FBY8
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