Published on 6/21/2023 in the Prospect News Structured Products Daily.
New Issue: RBC sells $637,720 accelerated return notes on SPDR Gold Shares
By William Gullotti
Buffalo, N.Y., June 21 – Royal Bank of Canada priced $637,720 of 0% Accelerated Return Notes due Aug. 30, 2024 linked to the SPDR Gold Shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any ETF gain, capped at par plus 15.75%. Investors will be exposed to any ETF decline.
BofA Securities, Inc. is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying ETF: | SPDR Gold Shares
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Amount: | $637,720
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Maturity: | Aug. 30, 2024
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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 ETF gain, capped at par plus 15.75%; exposure to any ETF decline
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Initial value: | $181.91
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Pricing date: | June 15
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Settlement date: | June 23
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Underwriter: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 78016B400
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