Published on 3/22/2024 in the Prospect News Structured Products Daily.
New Issue: RBC sells $5.94 million autocallable contingent coupon barrier notes on three indexes
By William Gullotti
Buffalo, N.Y., March 22 – Royal Bank of Canada priced $5.94 million of autocallable contingent coupon barrier notes due March 18, 2027 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 7.8% per year if the worst performing index closes at or above its trigger level, 70% of its initial level, on the relevant observation date.
The notes will be called at par plus coupon if the worst performing index closes at or above its initial level on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the worst performing index finishes below its trigger level, in which case investors will be fully exposed to the decline of the worst performing index from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $5,935,000
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| Maturity: | March 18, 2027
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| Coupon: | 7.8%, payable monthly if worst performing index closes at or above trigger level on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | If all indexes finish at or above the trigger level, par plus the final coupon; otherwise, investors will be fully exposed to the worst performing index from its initial level
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| Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date after six months
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| Initial levels: | 2,039.322 for Russell, 38,714.77 for Dow, 17,808.25 for Nasdaq
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| Trigger levels: | 1,427.525 for Russell, 27,100.34 for Dow, 12,465.78 for Nasdaq; 70% of initial levels
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.5%
|
| Cusip: | 78017FLQ4
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