New Issue: RBC prices $3.08 million digital notes tied to one-year SOFR ICE swap rate

By William Gullotti

Buffalo, N.Y., Jan. 19 – Royal Bank of Canada priced $3.08 million of 0% digital notes due Jan. 28, 2025 linked to the one-year U.S. Dollar SOFR ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

If the rate finishes at or above its 57% buffer level, the payout at maturity will be par plus 15%.

Otherwise, investors will lose 1.7544% for every 1% that the rate falls below buffer level.

RBC Capital Markets, LLC is the agent, with JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC acting as placement agents.

Issuer:	Royal Bank of Canada
Issue:	Digital notes
Underlying rate:	One-year U.S. Dollar SOFR ICE swap rate
Amount:	$3,075,000
Maturity:	Jan. 28, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If rate finishes at or above buffer level, par plus 15%; otherwise, lose 1.7544% for every 1% that the rate falls below buffer level
Initial level:	4.73%
Buffer level:	2.696%; 57% of initial level
Strike date:	Jan. 11
Pricing date:	Jan. 12
Settlement date:	Jan. 18
Agent:	RBC Capital Markets, LLC, with JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC acting as placement agents
Fees:	1%
Cusip:	78014RXN5

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