Published on 9/12/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $660,000 buffered return notes on S&P 500
Chicago, Sept. 12 – Royal Bank of Canada priced $660,000 of 0% buffered return notes due March 3, 2025 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 37.5%.
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, LLC 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 index
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Amount: | $660,000
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Maturity: | March 3, 2025
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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 37.5%; par if index falls by up to 15% and 1% loss for each 1% decline beyond 15%
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Initial level: | 4,057.66
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Buffer level: | 3,449.01, 85% of initial level
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Pricing date: | Aug. 26, 2022
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Settlement date: | Aug. 31, 2022
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.2832%
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Cusip: | 78016FQU1
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