Published on 9/29/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.07 million barrier absolute enhanced return notes on Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – Royal Bank of Canada priced $1.07 million of barrier absolute enhanced return notes due Sept. 27, 2028 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus 1.76 times the index return.
If the index declines up to the barrier level, 60% of the initial index level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for every 1% decline of the index from its initial level.
RBC Capital Markets, LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Barrier absolute enhanced return notes
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Underlying index: | Euro Stoxx 50 index
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Amount: | $1,073,000
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Maturity: | Sept. 27, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above its initial level, par plus 1.76 times the index return; if index declines no more than 40%, par plus absolute value of index return; otherwise, full exposure to the index’s decline from its initial level
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Initial index level: | 4,207.16
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Barrier level: | 2,524.30, 60% of initial level
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Pricing date: | Sept. 22
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Settlement date: | Sept. 27
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0%
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Cusip: | 78016NYG6
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