Published on 12/9/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.57 million leveraged buffered index-linked notes tied to S&P 500
By William Gullotti
Buffalo, N.Y., Dec. 9 – Royal Bank of Canada priced $3.57 million of 0% leveraged buffered index-linked notes due Nov. 13, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 200% of the gain, up to a maximum payout of par plus 28.2%.
If the index finishes flat or falls by up to 20%, investors will receive par. Otherwise, investors will lose 1.25% for every 1% decline beyond 20%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $3,567,000
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Maturity: | Nov. 13, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes above initial level, par plus 200% of index gain, capped at par plus 28.2%; if index finishes flat or falls by up to 20%, par; 1.25% loss for every 1% decline beyond 20%
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Initial index levels: | 4,071.7
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Buffer level: | 80%
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Pricing date: | Dec. 2
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Settlement date: | Dec. 9
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Agent: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78016HDE7
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