Published on 6/30/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $3.69 million Accelerated Return Notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 30 – Royal Bank of Canada priced $3.69 million of 0% Accelerated Return Notes due June 30, 2023 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 of $10 plus triple any index gain, capped at par plus 13.52%. Investors will be exposed to any index decline.
BofA Securities, Inc. is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying index: | S&P 500 index
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Amount: | $3,692,900
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Maturity: | June 30, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at par plus 13.52%; exposure to any index decline
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Initial value: | 4,266.49
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Final value: | Average of index’s closing prices on five trading days ending June 27, 2023
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Pricing date: | June 24
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Settlement date: | July 1
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Underwriter: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 78014T437
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