Published on 8/13/2021 in the Prospect News Structured Products Daily.
New Issue: RBC sells $86.14 million leveraged notes tied to Euro Stoxx Banks
By Marisa Wong
Los Angeles, Aug. 13 – Royal Bank of Canada priced $86.14 million of 0% leveraged notes due Nov. 3, 2022 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any index gain, up to a maximum settlement amount of $1,390 per $1,000 of notes.
Investors will lose 1% for every 1% decline in the index.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Leveraged notes
|
| Underlying index: | Euro Stoxx Banks index
|
| Amount: | $86,141,000
|
| Maturity: | Nov. 3, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any index gain, capped at par plus 39%; full exposure to any index decline
|
| Initial level: | 92.49
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 9
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 1.25%
|
| Cusip: | 78016ERD1
|
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