By William Gullotti
Buffalo, N.Y., Sept. 7 – Royal Bank of Canada priced $3.25 million of 0% barrier return notes due March 5, 2025 linked to the stock performance of Meta Platforms, Inc., according to a 424B2 filed with the Securities and Exchange Commission.
If the stock finishes above its initial level, the payout at maturity will be par plus the gain, subject to a maximum return of par plus 73.5%.
If the stock finishes flat or falls by up to 30%, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the stock’s decline from its initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier return notes
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Underlying stock: | Meta Platforms, Inc.
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Amount: | $3.25 million
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Maturity: | March 5, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any stock gain, capped at par plus 73.5%; par if stock finishes flat or falls by up to 30%; otherwise, full exposure to stock decline from initial level
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Initial level: | $290.26
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Barrier level: | $203.18; 70% of initial level
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Strike date: | Aug. 28
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Pricing date: | Aug. 30
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Settlement date: | Sept. 5
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0.256%
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Cusip: | 78016NXK8
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