By Angela McDaniels
Tacoma, Wash., April 4 – Royal Bank of Canada priced $145,000 of 0% barrier absolute return notes due April 1, 2024 linked to the lesser performing of the iShares MSCI Emerging Markets exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing underlier’s return is positive, the payout at maturity will be par plus 220% of the lesser-performing underlier’s return.
If the final level of the lesser-performing underlier is less than or equal to its initial level but greater than or equal to its barrier level, 60% of its initial level, the payout will be par plus the absolute value of the lesser-performing underlier’s return.
If the final level of the lesser-performing underlier is less than its barrier level, investors will have one-to-one exposure to the lesser-performing underlier’s decline from its initial level.
RBC Capital Markets LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Barrier absolute return notes
|
| Underliers: | iShares MSCI Emerging Markets ETF and Euro Stoxx 50 index
|
| Amount: | $145,000
|
| Maturity: | April 1, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If lesser-performing underlier’s return is positive, par plus 220% of lesser-performing underlier’s return; if final level of lesser-performing underlier is less than or equal to initial level but greater than or equal to barrier level, par plus absolute value of lesser-performing underlier’s return; if final level of lesser-performing underlier is less than barrier level, one-to-one exposure to lesser-performing underlier’s decline from initial level
|
| Initial levels: | $42.66 for ETF and 3,319.53 for index
|
| Barrier levels: | $25.60 for ETF and 1,991.72 for index, or 60% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Underwriter: | RBC Capital Markets LLC
|
| Fees: | 3.25%
|
| Cusip: | 78013X3B2
|
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