Published on 2/7/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $6.9 million capped leveraged notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – Royal Bank of Canada priced $6.9 million of 0% capped leveraged notes due Jan. 28, 2028 linked to a weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 50% weight, the Russell 2000 index with a 20% weight, the Euro Stoxx 50 index with a 9% weight, the FTSE 100 index with a 4% weight, the Nikkei Stock Average with a 4% weight, the Swiss Market index with a 1.5% weight and the S&P/ASX 200 index with a 1.5% weight.
The payout at maturity will be par plus 150% of any basket gain up to a maximum settlement amount of par plus 73.08%.
Investors will be fully exposed to any basket decline.
BofA Securities, Inc. is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Capped leveraged basket-linked notes
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| Underlying basket: | S&P 500 index (50% weight), Russell 2000 index, (20% weight), S&P MidCap 400 index (10% weight), Euro Stoxx 50 index (9% weight), FTSE 100 index (4% weight), Nikkei Stock Average (4% weight), Swiss Market index (1.5% weight), S&P/ASX 200 index (1.5% weight)
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| Amount: | $6,902,450
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| Maturity: | Jan. 28, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of any basket gain up to maximum settlement amount of par plus 73.08%; otherwise, 1% loss for each 1% decline
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| Initial index levels: | 4,906.19 for S&P, 1,974.419 for Russell, 2,767.42 for Stoxx, 4,638.6 for Euro Stoxx, 7,622.16 for FTSE, 36,011.46 for Nikkei, 11,213.91 for Swiss Market, 7,588.192 for S&P/ASX
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| Pricing date: | Feb. 1
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| Settlement date: | Feb. 8
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.5%
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| Cusip: | 78074B573
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