By Wendy Van Sickle
Columbus, Ohio, April 16 – Royal Bank of Canada priced $1.49 million of 0% market-linked securities – leveraged upside participation and buffered downside due April 17, 2023 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR Dow Jones industrial average ETF trust (50% weight), the SPDR S&P MidCap 400 ETF Trust (30% weight) and the iShares Russell 2000 ETF (20% weight).
The payout at maturity will be par plus 150% of any basket gain, up to a maximum of 32%.
Investors will receive par if the basket falls by up to 10% and will be exposed to any losses beyond the buffer.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Market-linked securities – leveraged upside participation to a cap and fixed-percentage buffered downside
|
| Underlying basket: | SPDR Dow Jones industrial average ETF trust (50% weight), SPDR S&P MidCap 400 ETF Trust (30% weight) and iShares Russell 2000 ETF (20% weight)
|
| Amount: | $1,486,000
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| Maturity: | April 17, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any basket gain, capped at 32%; par if basket falls by up to 10%; 1% loss for each 1% decline beyond 10%
|
| Initial levels: | $237.14 for SPDR Dow, $288.97 for SPDR S&P MidCap and $123.73 for iShares Russell
|
| Buffer levels: | 90% of initial levels
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| Pricing date: | April 9
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| Settlement date: | April 15
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 3.35%
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| Cusip: | 78015KJV7
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