Published on 3/25/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $491,000 buffered enhanced return notes tied to S&P 500
By Marisa Wong
Los Angeles, March 25 – Royal Bank of Canada priced $491,000 of 0% buffered enhanced return notes due Feb. 28, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index return, capped at par plus 9%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying index: | S&P 500 index
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Amount: | $491,000
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Maturity: | Feb. 28, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return capped at par plus 9%; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial level: | 3,876.50
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Buffer level: | 3,488.85, 90% of initial level
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Pricing date: | Feb. 22
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Settlement date: | Feb. 25
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Underwriter: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78016EGQ4
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