Published on 5/13/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1 million contingent digital return barrier notes on S&P 500
By William Gullotti
Buffalo, N.Y., May 13 – Royal Bank of Canada priced $1 million of 0% contingent digital return barrier notes due Feb. 14, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its barrier level, 75% of initial level, the payout at maturity will be par plus 7%. Investors will be fully exposed to the decline otherwise.
RBC Capital Markets, LLC is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
Issuer: | Royal Bank of Canada
|
Issue: | Contingent digital return barrier notes
|
Underlying index: | S&P 500 index
|
Amount: | $1 million
|
Maturity: | Feb. 14, 2023
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If the index final level is greater than or equal to its barrier level, the payout at maturity will be par plus 7%; otherwise, full exposure to index decline from its initial level
|
Initial level: | 3,991.24
|
Barrier level: | 2,993.43; 75% of initial level
|
Strike date: | May 9
|
Pricing date: | May 10
|
Settlement date: | May 13
|
Underwriter: | RBC Capital Markets, LLC
|
Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
Fees: | 0.5%
|
Cusip: | 78016FK60
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.