Published on 8/22/2023 in the Prospect News Structured Products Daily.
New Issue: RBC sells $850,000 digital barrier notes tied to biotech ETF
By Emma Trincal
New York, Aug. 22 – Royal Bank of Canada priced $850,000 of 0% digital notes with barrier due Sept. 20, 2024 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of the ETF finishes at or above its 70% barrier, the payout at maturity will be par plus the digital return of 9.5%.
Otherwise, investors will be fully exposed to any losses.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
|
Issue: | Digital notes with barrier
|
Underlying ETF: | SPDR S&P Biotech ETF
|
Amount: | $850,000
|
Maturity: | Sept. 20, 2024
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If ETF gains or falls by not more than 30%, par plus 9.5%; otherwise, full exposure to any losses
|
Initial price: | $76.95
|
Barrier price: | $53.87, 70% of initial level
|
Pricing date: | Aug. 17
|
Settlement date: | Aug. 22
|
Agent: | RBC Capital Markets, LLC
|
Fees: | 1.375%
|
Cusip: | 78016NVC8
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.