Published on 3/2/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $12,000 barrier enhanced return notes linked to S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, March 4 – Royal Bank of Canada priced $12,000 of 0% barrier enhanced return notes due July 2, 2026 linked to the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index return is positive, the payout at maturity will be par plus 138% of the return. Investors will receive par if the lesser-performing index declines by 30% or less and will lose 1% for every 1% drop of the lesser-performing index if it closes below 70% of its initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier enhanced return notes
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $12,000
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Maturity: | July 2, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is positive, par plus 138% of lesser-performing index return; par if lesser-performing index declines by 30% or less; otherwise 1% loss for every 1% that lesser-performing index declines from initial level
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Initial levels: | 4,378.41 for S&P, 1,849.930 for Russell, 14,945.91 for Nasdaq
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Barrier levels: | 3,064.89 for S&P, 1,294.951 for Russell, 10,462.14 for Nasdaq, 70% of initial levels
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Pricing date: | June 27, 2023
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Settlement date: | June 30, 2023
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.5%
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Cusip: | 78016NFK8
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