Published on 1/25/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.04 million buffered return notes linked to S&P 500
By Taylor Fox
New York, Jan. 25 – Royal Bank of Canada priced $1.04 million of 0% buffered return notes due June 26, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, capped at par plus 43%.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline in the index beyond 15%
RBC Capital Markets Corp. is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered return notes
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Underlying index: | S&P 500
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Amount: | $1,040,000
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Maturity: | June 26, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at par plus 43%; par if index falls by up to 15%; 1% loss for each 1% decline beyond 15%
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Initial level: | 3,690.01
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Buffer level: | 3,136.01, 85% of initial level
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Pricing date: | Dec. 23
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Settlement date: | Dec. 29
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Agent: | RBC Capital Markets Corp.
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Fees: | 3.25%
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Cusip: | 78016EST5
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