Published on 1/25/2022 in the Prospect News Structured Products Daily.
New Issue: RBC sells $20.54 million buffered return notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 25 – Royal Bank of Canada priced $20.54 million of 0% buffered return notes due Jan. 12, 2027 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is made up of the S&P 500 index with a 60% weight, Euro Stoxx 50 index with a 30% weight and the FTSE 100 index with a 10% weight.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 92.5% of the basket gain.
If the basket falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% basket decline beyond 20%.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Buffered return notes
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Underlying basket: | S&P 500 index (60% weight), Euro Stoxx 50 index (30% weight), FTSE 100 index (10% weight)
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Amount: | $20,535,000
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Maturity: | Jan. 12, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket gains, par plus 92.5% of the basket return; if basket falls by up to 20%, par; otherwise, 1% loss per 1% decline beyond 20%
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Initial levels: | 4,677.03 for S&P, 4,305.83 for Stoxx, 7,485.28 for FTSE
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Barrier level: | 80% of initial level
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Pricing date: | Jan. 7
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Settlement date: | Jan. 12
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 2.5%
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Cusip: | 78016FBQ6
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