Chicago, March 11 – Royal Bank of Canada priced $14.34 million of 0% buffered absolute return notes due March 9, 2026 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the notes are not called and the final ETF level is greater than or equal to its initial level, the payout at maturity will be par plus 125% of the ETF return, capped at par plus 35%.
If the ETF falls by up to 75.5%, the payout will be par plus half the absolute value of the return.
Otherwise, investors will lose 1% for every 1% decline beyond 24.5%.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered absolute return notes
|
| Underlying fund: | VanEck Gold Miners ETF
|
| Amount: | $14,344,000
|
| Maturity: | March 9, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.25 times ETF return if ETF gains or finishes flat, capped at par plus 35%; if ETF falls by up to 24.5%, par plus half absolute value of the return; otherwise, 1% loss for each 1% decline beyond 24.5%
|
| Initial level: | $28.51
|
| Buffer level: | $21.53; 75.5% of initial level
|
| Strike date: | March 4
|
| Pricing date: | March 5
|
| Settlement date: | March 8
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | 0%
|
| Cusip: | 78017FLP6
|
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