Published on 7/6/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.78 million trigger gears linked to S&P 500
By William Gullotti
Buffalo, N.Y., July 6 – Royal Bank of Canada priced $1.78 million of 0% trigger gears due June 30, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.145 times the index return.
Investors will receive par if the index declines by 40% or less and have one-to-one exposure to the index’s decline from its initial level if it declines by more than 40%.
RBC Capital Markets, LLC is the agent with UBS Financial Services Inc. acting as the placement agent.
Issuer: | Royal Bank of Canada
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Issue: | Trigger gears
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Underlying index: | S&P 500
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Amount: | $1,777,000
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Maturity: | June 30, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is greater than zero, par plus 1.145 times index return; par if index declines by 40% or less; full exposure to index’s decline from initial level if index declines by more than 40%
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Initial level: | 3,900.11
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Downside threshold: | 2,340.07; 60% of initial level
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | RBC Capital Markets, LLC with UBS Financial Services Inc. as placement agent
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Fees: | 3.5%
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Cusip: | 78016D240
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