Published on 12/24/2021 in the Prospect News Structured Products Daily.
New Issue: RBC prices $117,000 buffer return notes on basket of ETFs
By Kiku Steinfeld
Chicago, Dec. 29 – Royal Bank of Canada priced $117,000 of 0% buffer return notes due Aug. 31, 2023 linked to an equally weighted basket of exchange-traded funds. The basket consists of the Financial Select Sector SPDR fund and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any basket gain, up to a maximum return of 21%.
Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Buffer return notes
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Underlying components: | Financial Select Sector SPDR, Financial Select Sector SPDR, equal weights
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Amount: | $117,000
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Maturity: | Aug. 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any basket gain, up to 21%; par if basket declines by 10% or less; 1% loss for every 1% that basket declines beyond buffer
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Initial basket level: | $48.03 for Energy, $38.49 for Financial
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Buffer level: | 90% of initial level
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.25%
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Cusip: | 78016EA56
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