By William Gullotti
Buffalo, N.Y., June 2 – Royal Bank of Canada priced $1.5 million of 0% buffered enhanced return notes due Nov. 29, 2024 linked to the VanEck Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 200% of the return, capped at par plus 24.8%.
Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that the ETF declines beyond 10%.
RBC Capital Markets, LLC is the selling agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffered enhanced return notes
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Underlying fund: | VanEck Semiconductor ETF
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Amount: | $1.5 million
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Maturity: | Nov. 29, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is positive, par plus 200% of ETF return, capped at par plus 24.8%; par if ETF declines by 10% or less; 1% loss for every 1% of ETF decline beyond 10%
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Initial level: | $140.46
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Buffer level: | $126.41; 90% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 2.25%
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Cusip: | 78016NDF1
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