Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.09 million buffered enhanced return notes linked to index, ETF basket
By Wendy Van Sickle
Columbus, Ohio, April 23 – Royal Bank of Canada priced $3.09 million of 0% buffered enhanced return notes due April 21, 2026 linked to an unequally weighted basket of indexes and exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 38% weight, the iShares MSCI EAFE ETF with a 25% weight, the SPDR S&P MidCap 400 ETF Trust with a 15% weight, the iShares MSCI Emerging Markets ETF with a 12% weight and the Russell 2000 index with a 10% weight.
If the basket return is positive, the payout at maturity will be par plus 150% of the return, up to par plus 30%.
Investors will receive par if the basket declines by 5% or less and will lose 1% for every 1% that the basket declines beyond 5%.
RBC Capital Markets, LLC is the selling agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Buffered enhanced return notes
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| Underlying indexes: | S&P 500 index (38% weight), iShares MSCI EAFE ETF (25% weight), SPDR S&P MidCap 400 ETF Trust (15% weight), Shares MSCI Emerging Markets ETF (12% weight), Russell 2000 index (10% weight)
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| Amount: | $3,085,000
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| Maturity: | April 21, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket return is positive, par plus 150% of basket return, up to par plus 30%; par if basket declines by 5% or less; otherwise, 1% loss for every 1% that basket declines beyond 5%
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| Initial levels: | 5,051.41 for S&P, $76.25 for iShares MSCI EAFE, $521.63 for SPDR S&P MidCap, $39.74 for iShares MSCI Emerging, 1,967.475 for Russell
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| Buffer level: | 95% of initial level
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| Pricing date: | April 19
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| Settlement date: | April 21
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| Selling agent: | RBC Capital Markets, LLC
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| Fees: | 0%
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| Cusip: | 78017FTC7
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