Published on 2/12/2024 in the Prospect News Structured Products Daily.
New Issue: RBC sells $1.16 million barrier booster notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., Feb. 12 – Royal Bank of Canada priced $1.16 million of 0% barrier booster notes due Jan. 31, 2030 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the index is greater than 40%, the payout at maturity will be par plus the return of the index.
If the index finishes flat or gains up to 40%, the payout will be par plus 40%.
If the index declines by no more than 25%, the payout will be par.
If the index falls by more than 25%, investors will lose 1% for every 1% decline from initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier booster notes
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Underlying index: | S&P 500 index
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Amount: | $1,157,000
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Maturity: | Jan. 31, 2030
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains by more than 40%, par plus the index return; if index finishes flat or gains up to 40%, par plus 40%; if index falls by up to 25%, par; if index falls by more than 25%, full exposure to decline
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Initial level: | 4,890.97
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Barrier level: | 3,668.23; 75% of initial level
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | RBC Capital Markets, LLC
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Fees: | 3.35%
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Cusip: | 78017FE58
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