Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $889,000 notes linked to 22 Raymond James securities selections
By Kiku Steinfeld
Chicago, Dec. 12 – Royal Bank of Canada priced $889,000 of 0% notes linked to Raymond James securities selections due Oct. 24, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to an equally-weighted basket of 22 stocks selected by Raymond James & Associates, Inc.
The reference shares are Advanced Micro Devices, Inc., AeroVironment, Inc., Cognex Corp., Cisco Systems Inc., Digital Realty Trust, Inc., DexCom, Inc., Equinix, Inc., Alphabet Inc., Hewlett Packard Enterprise Co., Intel Corp., Itron, Inc., Mobileye Global Inc., Meta Platforms, Inc., Microsoft Corp., Nvidia Corp., Palantir Technologies, Inc., Insulet Corp., Pure Storage, Inc., RadNet, Inc., Symbotic Inc., Tandem Diabetes Care, Inc. and Zimmer Biomet Holdings, Inc.
Interest, if any, will be paid quarterly based on the dividends on each of the stocks during that quarter. For each $1,000 principal amount, the payment will equal 97.35% of the sum of the dividend amounts for each of the reference stocks.
The payout at maturity will be par multiplied by 97.35% multiplied by the basket level percentage. Because of the participation rate, investors will receive less than par if the basket does not gain by at least 1.17%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Notes linked to Raymond James securities selections
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| Underlying stocks: | Advanced Micro Devices, Inc., AeroVironment, Inc., Cognex Corp., Cisco Systems Inc., Digital Realty Trust, Inc., DexCom, Inc., Equinix, Inc., Alphabet Inc., Hewlett Packard Enterprise Co., Intel Corp., Itron, Inc., Mobileye Global Inc., Meta Platforms, Inc., Microsoft Corp., Nvidia Corp., Palantir Technologies, Inc., Insulet Corp., Pure Storage, Inc., RadNet, Inc., Symbotic Inc., Tandem Diabetes Care, Inc. and Zimmer Biomet Holdings, Inc.; equally weighted
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| Amount: | $889,000
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| Maturity: | Oct. 24, 2024
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| Coupon: | Interest, if any, will be paid quarterly based on the dividends on each of the stocks during that quarter; for each $1,000 principal amount, the payment will equal 97.35% of the sum of the dividend amounts for each of the reference stocks
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| Price: | Par of $1,000
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| Payout at maturity: | Par times 97.35% times the basket level percentage; because of participation rate, investors will receive less than par if the basket does not gain by at least 1.17%
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| Initial share prices: | $88.43 for AMD, $102.73 for AeroVironment, $48.62 for Cognex, $47.03 for Cisco, $96.64 for Digital Realty, $123.73 for DexCom, $713 for Equinix, $105.41 for Alphabet, $14.46 for Hewlett, $30.30 for Intel, $52.37 for Itron, $44.44 for Mobileye, $212.89 for Meta, $285.76 for Microsoft, $271.19 for Nvidia, $8.18 for Palantir, $319.30 for Insulet, $23.28 for Pure Storage, $27.97 for RadNet, $30.56 for Symbotic, $37.48 for Tandem and $137.92 for Zimmer
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| Pricing date: | April 21, 2023
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| Settlement date: | April 26, 2023
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 1.5%
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| Cusip: | 78015QEQ0
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