Published on 2/20/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.26 million notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., Feb. 20 – Royal Bank of Canada priced $1.26 million of 0% notes due Aug. 5, 2025 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 the index return, capped at par plus 10.5%.
If the index return is zero or negative, the payout will be par.
RBC Capital Markets LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,259,000
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| Maturity: | Aug. 5, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, capped at par plus 10.5%; otherwise, par
|
| Initial level: | 4,845.65
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 5
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 0.04%
|
| Cusip: | 78017FAB9
|
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