Published on 7/22/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $430,000 barrier enhanced return notes linked to S&P 500
Chicago, July 24 – Royal Bank of Canada priced $430,000 of 0% barrier enhanced return notes due July 18, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the return, capped at par plus 61.5%. Investors will receive par if the index declines by 30% or less and will lose 1% for every 1% that the index declines from initial level if it finishes below the barrier.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier enhanced return notes
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Underlying index: | S&P 500 index
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Amount: | $430,000
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Maturity: | July 18, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 200% of the index return, capped at par plus 61.5%; par if index declines by 30% or less; otherwise, 1% loss for every 1% that the index declines from initial level
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Initial levels: | 4,510.04
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Barrier levels: | 3,157.03; 70% of initial levels
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Pricing date: | July 13
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Settlement date: | July 18
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Agent: | RBC Capital Markets, LLC
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Fees: | 3.625%
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Cusip: | 78016NNS2
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