Published on 1/3/2023 in the Prospect News Structured Products Daily.
New Issue: RBC sells $77.33 million Accelerated Return Notes on S&P 500
By William Gullotti
Buffalo, N.Y., Jan. 3 – Royal Bank of Canada priced $77.33 million of 0% Accelerated Return Notes due Feb. 23, 2024 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 21.39%.
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: | $77,325,490
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Maturity: | Feb. 23, 2024
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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 21.39%; otherwise, full exposure to any index decline
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Initial value: | 3,822.39
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Pricing date: | Dec. 22
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Settlement date: | Dec. 30
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Underwriter: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 78015B237
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