Published on 3/17/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.5 million buffered enhanced return notes linked to S&P
Chicago, March 18 – Royal Bank of Canada priced $2.5 million of 0% buffered enhanced return notes due April 9, 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 200% of the index return, subject to a maximum return of 11.15%. If the index declines by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying index: | S&P 500 index
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Amount: | $2,500,000
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Maturity: | April 9, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return, subject to maximum return of 11.15%; if index declines by up to 10%, par; otherwise, 1% loss for every 1% that index declines beyond 10%
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Initial level: | 5,130.95
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Buffer level: | 4,617.86, or 90% of initial level
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Pricing date: | March 4
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Settlement date: | March 7
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78017FK77
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