Published on 3/15/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.44 million barrier enhanced return notes linked to S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, March 15 – Royal Bank of Canada price $2.44 million of 0% barrier enhanced return notes due Feb. 25, 2027 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 125% of any gain of the lesser performing index.
Investors will receive par if the lesser performing index falls by up to 65% and will be fully exposed to the decline of the lesser performing index if it falls beyond the 65% barrier level.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Barrier enhanced return notes
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Basket components: | S&P 500 and Dow Jones industrial average
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Amount: | $2.44 million
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Maturity: | Feb. 25, 2027
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 125% of any gain of lesser-performing index; par if lesser-performing index falls by up to 35%; full exposure to loss if lesser-performing falls by more than 35%
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Initial index levels: | 3,876.5 for S&P, 31,521.69 for Dow
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Barrier levels: | 2,519.73 for S&P, 20,489.1 for Dow; 65% of initial levels
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Pricing date: | Feb. 22
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Settlement date: | Feb. 25
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78016EDL8
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