Published on 11/2/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.98 million Accelerated Return Notes on basket of tech stocks
By William Gullotti
Buffalo, N.Y., Nov. 2 – Royal Bank of Canada priced $3.98 million of 0% Accelerated Return Notes due Dec. 23, 2022 linked to a basket of technology sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Nvidia Corp. with a 33.34% weight, Micron Technology, Inc. with a 33.33% weight and Splunk Inc. with a 33.33% weight.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 26.4%. Investors will be exposed to any basket decline.
BofA Securities, Inc. is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying stocks: | Nvidia Corp. with a 33.34% weight, Micron Technology, Inc. with a 33.33% weight and Splunk Inc. with a 33.33% weight
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Amount: | $3,979,000
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Maturity: | Dec. 23, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, capped at 26.4%; otherwise, exposure to any basket decline
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Initial share prices: | $249.41 for Nvidia, $69.58 for Micron, $164.50 for Splunk
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Pricing date: | Oct. 28
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Settlement date: | Nov. 4
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 78014T130
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