Published on 3/21/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.04 million buffer digital notes linked to S&P, Russell
By William Gullotti
Buffalo, N.Y., March 21 – Royal Bank of Canada priced $1.04 million of 0% buffer digital notes due April 11, 2025 linked to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 11.35% if the worst performer finishes at or above its 90% buffer level.
Otherwise, investors will lose 1% for every 1% that the worst performer declines beyond 10%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffer digital notes
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $1.04 million
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Maturity: | April 11, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 11.35% if worst performer finishes at or above buffer level; otherwise, lose 1% for every 1% that the worst performer declines beyond 10%
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Initial levels: | 5,123.69 for S&P, 2,082.713 for Russell
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Buffer levels: | 4,611.32 for S&P, 1,874.442 for Russell; 90% of initial levels
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Pricing date: | March 8
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Settlement date: | March 13
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78017FL76
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