Published on 10/23/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.02 million barrier booster notes linked to S&P, Stoxx
By Kiku Steinfeld
Chicago, Oct. 25 – Royal Bank of Canada priced $2.02 million of 0% barrier booster notes due July 30, 2027 linked to the worse performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the lesser performing index is greater than 54%, the payout at maturity will be par plus the return of the lesser performing index.
If the return of the lesser performing index is positive but does not exceed 54%, the payout will be par plus 54%.
If the lesser performing index finishes flat or falls by up to 40%, the payout will be par.
If the lesser performing index falls by more than 40%, investors will lose 1% for every 1% decline of the lesser performing index below its the initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier booster notes
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Underlying indexes: | S&P 500 index, Euro Stoxx 50 index
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Amount: | $2.02 million
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Maturity: | July 30, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser performing index gains by more than 54%, par plus that gain; if lesser performing index increases by up to 54%, par plus 54%; if lesser performing index finishes flat or falls by up to 40%, par; if lesser performing index falls by more than 40%, full exposure to decline
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Initial levels: | 4,064.83 for Stoxx, 4,401.46 for S&P
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Barrier levels: | 2,438.90 for Stoxx, 2,640.88 for S&P; 60% of initial levels
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Pricing date: | July 27
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Settlement date: | July 30
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Agent: | RBC Capital Markets, LLC
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Fees: | 3.25%
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Cusip: | 78016ELR6
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