Published on 3/13/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.14 million autocallable contingent coupon buffer notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., March 13 – Royal Bank of Canada priced $1.14 million of autocallable contingent coupon buffer notes due Feb. 26, 2027 linked to the performance of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 8.2% per year if the worst performing index closes at or above its trigger level, 80% of its initial level, on the relevant observation date.
The notes will be called at par plus coupon if the worst performing index closes at or above its initial level on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the worst performing index finishes below its trigger level, in which case investors will lose 1% for each 1% that the worst performer declines below 20%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon buffer notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $1.14 million
|
| Maturity: | Feb. 26, 2027
|
| Coupon: | 8.2%, payable quarterly if worst performing index closes at or above trigger level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | If all indexes finish at or above the trigger level, par plus the final coupon; otherwise, investors will lose 1% for each 1% that the worst performer declines below 20%
|
| Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date after six months
|
| Initial levels: | 2,016.688 for Russell, 5,088.8 for S&P
|
| Trigger levels: | 1,613.35 for Russell, 4,071.04 for S&P; 80% of initial levels
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 0.5%
|
| Cusip: | 78017FHA4
|
|
|
© 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.
