Published on 5/16/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.52 million Leveraged Index Return Notes linked to weighted index basket
By William Gullotti
Buffalo, N.Y., May 16 – Royal Bank of Canada priced $2.52 million of 0% Leveraged Index Return Notes due May 29, 2026 linked to a weighted index basket, according to a 424B2 filed with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the FTSE China 50 index with a 5% weight.
The payout at maturity will be par of $10 plus 1.521 times any basket gain.
If the basket falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Leveraged Index Return Notes
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Underlying indexes: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight), FTSE China 50 index (5% weight)
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Amount: | $2,515,120
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Maturity: | May 29, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.521 times any basket gain; if basket falls by up to 10%, par; otherwise, 1% loss for every 1% that the basket declines beyond 10%
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Initial levels: | 4,309.75 for Stoxx, 7,730.58 for FTSE, 29,126.72 for Nikkei, 11,522.97 for Swiss Market, 7,251.92 S&P/ASX 200, 12,875.54 for FTSE China 50
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Threshold level: | 90% of initial level
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Pricing date: | May 11
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Settlement date: | May 18
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Agent: | BofA Securities, Inc.
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Fees: | 2.25%
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Cusip: | 78016B103
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