Published on 6/26/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $362,000 barrier booster notes linked to S&P, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., June 26 – Royal Bank of Canada priced $362,000 of 0% barrier booster notes due July 29, 2027 linked to the S&P 500 index and the Euro Stoxx 50, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lesser performing index is greater than or equal to its initial level but its index return does not exceed 56%, the payout at maturity will be par plus 56%.
If the final level of the lesser performing index is greater than its initial level and its index return exceeds 56%, the payout will be par plus the return of that index.
If the final level of the lesser performing index is less than its initial level but not less than its barrier level, 60% of its initial level, the payout will be par.
If the final level of the lesser performing index is less than its barrier level, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
|
Issue: | Barrier booster notes
|
Underlying indexes: | S&P 500 index and Euro Stoxx 50
|
Amount: | $362,000
|
Maturity: | July 29, 2027
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If final level of lesser performing index is greater than or equal to initial level but index return does not exceed 56%, par plus 56%; if final level of lesser performing index is greater than initial level and index return exceeds 56%, par plus return of that index; if final level of lesser performing index is less than initial level but not less than barrier level, par; if final level of lesser performing index is less than barrier level, 1% loss for every 1% that lesser performing index declines from initial level
|
Initial levels: | 3,921.05 for S&P and 3,575.36 for Euro Stoxx
|
Barrier levels: | 2,352.63 for S&P and 2,145.22 for Euro Stoxx, or 60% of initial levels
|
Pricing date: | July 26, 2022
|
Settlement date: | July 29, 2022
|
Agent: | RBC Capital Markets, LLC
|
Fees: | 3.25%
|
Cusip: | 78016FP99
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.