By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – Royal Bank of Canada priced $2.19 million of 0% buffered return notes due Feb. 1, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the index.
If the index declines by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline beyond the 25% buffer.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Buffered return notes
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| Underlying index: | S&P 500
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| Amount: | $2.19 million
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| Maturity: | Feb. 1 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any index gain; if index falls by up to 25%, par; 1% loss for each 1% decline beyond 25%
|
| Initial index level: | 2,643.85
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| Buffer level: | 1,982.89, 75% of initial level
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 1
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 3.25%
|
| Cusip: | 78013XWS3
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