Published on 9/13/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.23 million barrier booster notes linked to S&P, Stoxx
By Kiku Steinfeld
Chicago, Sept. 13 – Royal Bank of Canada priced $1.23 million of 0% barrier booster notes due Jan. 31, 2028 linked to the worse performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the lesser performing index is greater than 63%, the payout at maturity will be par plus the return of the lesser performing index.
If the return of the lesser performing index finishes flat or gains up to 63%, the payout will be par plus 63%.
If the lesser performing index falls by up to 40%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser performing index below its the initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier booster notes
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Underlying indexes: | S&P 500 index, Euro Stoxx 50 index
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Amount: | $1,232,000
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Maturity: | Jan. 31, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser performing index gains by more than 63%, par plus that gain; if lesser performing index finishes flat or increases by up to 63%, par plus 63%; if lesser performing index falls by up to 40%, par; otherwise, full exposure to decline of lesser performing index from initial level
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Initial levels: | 4,349.93 for S&P, 4,164.60 for Stoxx
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Barrier levels: | 2,609.96 for S&P, 2,498.76 for Stoxx; 60% of initial levels
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78016FBP8
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