Published on 10/4/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $14.82 million capped leveraged index return notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – Royal Bank of Canada priced $14.82 million of 0% capped leveraged index return notes due Sept. 27, 2024 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index with an initial weight of 20%, the Nikkei Stock Average index with an initial weight of 20%, the Swiss Market index with an initial weight of 7.5%, the S&P/ASX 200 index with an initial weight of 7.5% and the FTSE China 50 index with an initial weight of 5%.
If the basket return is positive, the payout at maturity will be par plus double the basket return, subject to a maximum return of 31.75%.
If the basket falls by up to 10%, the payout will be par.
Investors will lose 1% for each 1% decline beyond 10%.
BofA Securities, Inc. is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Capped leveraged index return notes
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| Underlying indexes: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and FTSE China 50 index (5% weight)
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| Amount: | $14,817,000
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| Maturity: | Sept. 27, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 200% of any basket gain, capped at 31.75%; par if basket falls by up to 10%; otherwise, 1% loss for every 1% decline beyond 10%
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| Initial index levels: | 3,279.04 for Stoxx, 6,881.59 for FTSE, 26,422.05 for Nikkei, 10,126.99 for Swiss, 6,554.968 for S&P/ASX, 11,575.53 for FTSE China 50
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| Final index level: | Average of index’s closing levels on five trading days ending Sept. 24, 2024
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 6
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| Agent: | BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 78015B427
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