By Wendy Van Sickle
Columbus, Ohio, April 3 – Royal Bank of Canada priced $1.84 million of 0% absolute return notes with rebate feature due March 31, 2022 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 50% weight and the Russell 2000 index with a 50% weight.
If the basket return is zero or positive the payout at maturity will be par.
If the basket return is negative but greater than or equal to 70% of the initial level, the payout will be par plus the absolute value of the return.
If the basket falls by more than 30%, the payout will be par plus the rebate return of 5%.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Absolute return notes with rebate feature
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| Underlying indexes: | S&P 500, Russell 2000; 50% weight each
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| Amount: | $1.84 million
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| Maturity: | March 31, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket return is zero or positive, par; if the basket return is negative but greater than or equal to 70% of the initial level, par plus the absolute value of the return; if the basket falls by more than 30%, par plus 5%
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| Initial index levels: | 2,818.46 for S&P, 1,528.166 for Russell
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| Pricing date: | March 29
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| Settlement date: | March 31
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78013X3E6
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