Published on 4/1/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $12.45 million Accelerated Return Notes linked to iShares ETF
By William Gullotti
Buffalo, N.Y., April 1 – Royal Bank of Canada priced $12.45 million of 0% Accelerated Return Notes due May 30, 2025 linked to the iShares U.S. Aerospace & Defense ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any ETF gain, up to a maximum payout of par plus 12.6%.
Investors will be exposed to any ETF decline.
BofA Securities, Inc. is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Accelerated Return Notes
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Underlying fund: | iShares U.S. Aerospace & Defense ETF
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Amount: | $12,448,890
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Maturity: | May 30, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any ETF gain, capped at par plus 12.6%; full exposure to any ETF decline
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Initial level: | $131.85
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Pricing date: | March 27
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Settlement date: | April 4
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 78016R470
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