Published on 1/28/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $588,000 barrier booster notes linked to S&P, Stoxx
Chicago, Jan. 28 – Royal Bank of Canada priced $588,000 of 0% barrier booster notes due April 29, 2027 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 its initial level, the return will be the greater of the return of that index or the 59% booster coupon.
If the lesser performing falls by up to 40%, the payout will be par.
If the lesser performing index falls by more than 40%, 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: | $588,000
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Maturity: | April 29, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser performing index gains, the payout will be the greater of par plus 59% or par plus the return of the worst performer; par; if lesser performing index falls by not more than 40%; otherwise, full exposure to decline of that index from initial level
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Initial levels: | 3,721.36 for Stoxx, 4,175.20 for S&P
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Barrier levels: | 2,232.82 for Stoxx, 2,505.12 for S&P; 60% of initial levels
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Pricing date: | April 26, 2022
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Settlement date: | April 29, 2022
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Agent: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78016FHR8
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