Published on 3/22/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.45 million contingent coupon barrier notes linked to S&P, Nasdaq, Russell
By William Gullotti
Buffalo, N.Y., March 22 – Royal Bank of Canada priced $1.45 million of contingent coupon barrier notes due March 18, 2027 linked to the performance of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 10.25% if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that period.
The payout at maturity will be par plus the final coupon unless any index finishes below the 80% trigger level, in which case investors will lose 1% for each 1% that the worst performing index declines from initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Contingent coupon barrier notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
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| Amount: | $1.45 million
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| Maturity: | March 18, 2027
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| Coupon: | 10.25%, payable quarterly if each index closes at or above coupon barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless any index finishes below trigger level, in which case investors will lose 1% for each 1% that the worst performing index declines from initial level
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| Initial index levels: | 2,039.322 for Russell, 5,117.09 for S&P, 17,808.25 for Nasdaq
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| Coupon barriers: | 1,631.458 for Russell, 4,093.67 for S&P, 14,246.6 for Nasdaq; 80% of initial index levels
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| Trigger levels: | 1,631.458 for Russell, 4,093.67 for S&P, 14,246.6 for Nasdaq; 80% of initial index levels
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 0.4%
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| Cusip: | 78017FMA8
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