Published on 6/9/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.69 million Accelerated Return Notes on basket of sector indexes
By William Gullotti
Buffalo, N.Y., June 9 – Royal Bank of Canada priced $3.69 million of 0% Accelerated Return Notes due July 29, 2022 linked to a basket of sector indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Energy Select Sector index with a 33.34% weight, the Materials Select Sector index with a 33.33% weight and the Industrial Select Sector index with a 33.33% weight.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 17.8%. Investors will be fully exposed to any basket decline.
BofA Securities, Inc. is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying indexes: | Energy Select Sector index with a 33.34% weight, Materials Select Sector index with a 33.33% weight and Industrial Select Sector index with a 33.33% weight
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Amount: | $3,693,650
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Maturity: | July 29, 2022
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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 basket gain, capped at par plus 17.8%; otherwise, exposure to any basket decline
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Initial levels: | 540.46 for Energy, 918.25 for Materials, 1,040.42 for Industrial
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Pricing date: | May 13
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Settlement date: | May 20
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 78014T486
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