Published on 6/16/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.2 million geared buffered digital return notes on S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., June 16 – Royal Bank of Canada priced $1.2 million of geared buffered digital return notes due July 12, 2024 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 13% unless any index finishes below its buffer level, 85% of the initial level, in which case investors will lose 1.1765% for every 1% decline of the worst performer beyond 15%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Geared buffered digital return notes
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $1.2 million
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Maturity: | July 12, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 13% unless any index finishes below buffer level, in which case investors will lose 1.1765% for every 1% decline of the worst performer beyond 15%
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Initial levels: | 4,298.86 for S&P, 1,865.706 for Russell, 14,528.36 for Nasdaq
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Buffer levels: | 3,654.03 for S&P, 1,585.85 for Russell, 12,349.11 for Nasdaq; 85% of initial levels
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Pricing date: | June 9
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Settlement date: | June 14
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78016NEG8
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