By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – Royal Bank of Canada priced $4.24 million of 0% absolute return buffered securities due Jan. 26, 2024 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 the underlying return of the lower-performing index.
If an index’s final level is greater than or equal to its initial level, its underlying return will be 119% of its index return.
If an index’s final level is less than its initial level by up to 20%, its underlying return will be the absolute value of its index return.
If an index’s final level is less than its initial level by more than the 20% buffer, its underlying return will be its index return plus 20%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Absolute return buffered securities
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| Underlying indexes: | S&P 500 and Dow Jones Industrial Average
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| Amount: | $4,237,000
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| Maturity: | Jan. 26, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus underlying return of lower-performing index
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| Underlying return: | If index’s final level is greater than or equal to initial level, 119% of index return; if index’s final level is less than initial level by up to 20%, absolute value of index return; if index’s final level is less than initial level by more than 20%, index return plus 20%
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| Initial index levels: | 2,839.13 for S&P 500, 26,210.81 for Dow
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78013XEJ3
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