Published on 6/29/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $20.53 million accelerated return notes on basket of sector indexes
By William Gullotti
Buffalo, N.Y., June 29 – Royal Bank of Canada priced $20.53 million of 0% accelerated return notes due Aug. 26, 2022 linked to a basket of financial 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, Materials Select Sector index with a 33.33% weight and 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 16%. Investors will be 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: | $20,533,090
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Maturity: | Aug. 26, 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 16%; otherwise, exposure to any basket decline
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Initial share prices: | 576.68 for Energy, 868.66 for Materials, 1,029.36 for Industrial
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Pricing date: | June 24
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Settlement date: | July 1
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 78014T429
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