By William Gullotti
Buffalo, N.Y., June 28– Royal Bank of Canada priced $1 million of capped barrier return notes due July 6, 2023 linked to the Health Care Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final ETF level is greater than the initial level, the payout at maturity will be par plus the return, capped at par plus 19.01%.
If the final ETF level is less than or equal to the initial price but greater than or equal to the barrier level, 80% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the ETF declines from its initial level.
RBC Capital Markets, LLC is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Capped barrier return notes
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| Underlying fund: | Health Care Select Sector SPDR Fund
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| Amount: | $1 million
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| Maturity: | July 6, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final ETF level is greater than initial level, par plus the return, capped at par plus 19.01%; if final ETF level is less than or equal to initial level but greater than or equal to barrier level, par; otherwise, 1% loss for every 1% decline that ETF declines from initial level
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| Initial level: | $119.89
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| Barrier level: | $95.91; 80% of initial level
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| Strike date: | June 17
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| Pricing date: | June 21
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| Settlement date: | June 24
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| Agent: | RBC Capital Markets, LLC
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| Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 78016FMD3
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