Published on 12/20/2023 in the Prospect News Structured Products Daily.
New Issue: Royal Bank prices $1.54 million PLUS linked to Euro Stoxx 50
New York, Dec. 20 – Royal Bank of Canada priced $1.54 million of 0% PLUS due April 3, 2025 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 300% of the index return subject to a maximum return of par plus 23.6%. Investors will lose 1% for every 1% that it declines.
RBC Capital Markets, LLC is the agent. Morgan Stanley Wealth Management will act as placement agent.
Issuer: | Royal Bank of Canada
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Issue: | PLUS
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Underlying index: | Euro Stoxx 50 index
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Amount: | $1.54 million
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Maturity: | April 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 300% of index return subject to a maximum return of par plus 23.6%; 1% loss for every 1% that index declines
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Initial level: | 4,549.44
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Upside leverage: | 300%
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Cap: | 23.6%
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Pricing date: | Dec. 15
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Settlement date: | Dec. 20
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Agent: | RBC Capital Markets, LLC
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 2.25% including a structuring fee of 0.5%
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Cusip: | 78017F2M4
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