Published on 6/30/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $750,000 buffered return notes on S&P 500
Chicago, June 30 – Royal Bank of Canada priced $750,000 of 0% buffered return notes due July 11, 2023 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 plus any index gain, capped at 14.5%.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline in the index beyond 15%
RBC Capital Markets Corp. is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered return notes
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Underlying index: | S&P 500
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Amount: | $750,000
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Maturity: | July 11, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 14.5%; par if index falls by up to 15% and 1% loss for each 1% decline beyond 15%
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Initial level: | 3,831.39
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Buffer level: | 3,256.68, 85% of initial level
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Pricing date: | July 5, 2022
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Settlement date: | July 8, 2022
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Agent: | RBC Capital Markets Corp.
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Fees: | 0.25%
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Cusip: | 78016FN34
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