Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $715,000 levered market plus notes on Stoxx
By Kiku Steinfeld
Chicago, July 14 – Royal Bank of Canada priced $715,000 of 0% levered market plus notes due June 13, 2024 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.54 times any index gain.
Investors will receive par if the index falls by up to 20%. Otherwise, investors will be fully exposed to the index’s decline from its initial level.
RBC Capital Markets, LLC is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
Issuer: | Royal Bank of Canada
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Issue: | Levered market plus notes
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Underlying index: | Euro Stoxx 50 index
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Amount: | $715,000
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Maturity: | June 13, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.54 times any index gain; par if index falls by 20% or less; 1% loss for every 1% decline in the index from initial level
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Initial level: | 4,197.94
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Barrier level: | 3,358.35; 80% of initial level
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Pricing date: | Feb. 10
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Settlement date: | Feb. 15
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Underwriter: | RBC Capital Markets, LLC
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Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1.167%
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Cusip: | 78016HSC5
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