Published on 12/19/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $526,000 barrier absolute enhanced return notes on Stoxx
By Kiku Steinfeld
Chicago, Dec. 19 – Royal Bank of Canada priced $526,000 of 0% barrier absolute enhanced return notes due April 26, 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 1.655 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 be fully exposed to the losses of the index.
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: | $526,000
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Maturity: | April 26, 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 1.655 times the index return; if index declines no more than 40%, par plus absolute value of index return; otherwise, full exposure to losses of index
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Initial index level: | 4,408.59
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Barrier level: | 2,645.15, 60% of initial level
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Pricing date: | April 21, 2023
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Settlement date: | April 26, 2023
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Underwriter: | RBC Capital Markets, LLC
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Fees: | 0%
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Cusip: | 78016HX39
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