Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: RBC sells $938,000 upside participation market-linked contingent minimum notes
Chicago, April 19 – Royal Bank of Canada priced $938,000 of 0% market-linked securities with upside participation and contingent minimum return and contingent downside due July 24, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be the greater of par plus 35.5% and par plus the index gain.
If the index falls by up to 30%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the index from its initial level.
Wells Fargo Securities, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Market-linked securities – upside participation with contingent minimum return and contingent downside
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Underlying index: | S&P 500 index
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Amount: | $938,000
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Maturity: | July 24, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above initial level, the greater of par plus 35.5% and par plus the index gain; if the index falls by up to 30%, par; otherwise, lose 1% for every 1% of index decline from initial level
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Initial level: | 4,839.81
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Buffer level: | 3,387.867; 70% of initial level
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Pricing date: | Jan. 19
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Settlement date: | Jan. 24
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Agent: | Wells Fargo Securities, LLC
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Fees: | 3.87%
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Cusip: | 78017FC43
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