Published on 6/13/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.53 million geared buffered enhanced return notes on iShares U.S. Real Estate
By Wendy Van Sickle
Columbus, Ohio, June 13 – Royal Bank of Canada priced $2.53 million of 0% geared buffered enhanced return notes due July 13, 2023 linked to the iShares U.S. Real Estate ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 2 times the fund return, capped at 21%. Investors will receive par if the fund declines by 10% or less and will lose 1.1111% for every 1% that the fund declines beyond 10%.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
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| Issue: | Geared buffered enhanced return notes
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| Underlying fund: I | Shares U.S. Real Estate ETF
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| Amount: | $2,534,000
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| Maturity: | July 13, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund return is positive, par plus 2 times fund return, capped at 21%; par if fund declines by 10% or less; 1.1111% loss for every 1% that fund declines beyond 10%
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| Initial fund level: | $97.04
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| Buffer level: | $87.34, 90% of initial level
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| Pricing date: | June 8
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| Settlement date: | June 13
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| Underwriter: | RBC Capital Markets, LLC
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| Fees: | 0.25%
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| Cusip: | 78016FLU6
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