By William Gullotti
Buffalo, N.Y., March 22 – Royal Bank of Canada priced $1.12 million of 0% digital plus absolute return notes with barrier due Sept. 17, 2027 tied to the S&P 500 Futures Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes flat or gains, the payout at maturity will be the greater of par plus the index return and par plus the 23% digital return.
If the index declines by no more than 45%, investors will gain 0.5% for each 1% that the index declines.
Otherwise, investors will be fully exposed to the decline of the index from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Digital plus absolute return notes with barrier
|
| Underlying index: | S&P 500 Futures Excess Return index
|
| Amount: | $1,119,000
|
| Maturity: | Sept. 17, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes flat or gains, the greater of par plus the index return and par plus the 23% digital return; if the index declines by no more than 45%, par plus 50% of the absolute value of the return of the index; otherwise, full exposure to decline
|
| Initial level: | 452.31
|
| Barrier level: | 248.77; 55% of initial level
|
| Pricing date: | March 14
|
| Settlement date: | March 19
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 2.5%
|
| Cusip: | 78017FKY8
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