Published on 12/15/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.67 million geared buffered digital notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., Dec. 15 – Royal Bank of Canada priced $1.67 million of geared buffered digital notes due Dec. 10, 2026 linked to the worst performing of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 29% unless the index finishes below its buffer level, 90% of the initial level, in which case investors will lose 1.1111% for every 1% decline of the index beyond the 10% buffer.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Geared buffered digital notes
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Underlying index: | S&P 500 index
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Amount: | $1.67 million
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Maturity: | Dec. 10, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 29% unless the index finishes below buffer level, in which case investors will lose 1.1111% for every 1% decline of the index beyond 10%
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Initial level: | 4,585.59
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Buffer level: | 4,127.03; 90% of initial level
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Pricing date: | Dec. 7
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Settlement date: | Dec. 12
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78017F4Q3
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