By Kiku Steinfeld
Chicago, Jan. 10 – Royal Bank of Canada priced $655,000 of 0% market-linked securities – leveraged upside participation and buffered downside due Jan. 3, 2024 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the iShares MSCI EAFE exchange-traded fund with a 60% weight and the iShares MSCI Emerging Markets exchange-traded fund with a 40% weight.
The payout at maturity will be par plus 150% of any basket gain, up to a maximum of 40%.
Investors will receive par if the basket falls by up to 10% and will be exposed to any losses beyond the buffer.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Market-linked securities – leveraged upside participation and buffered downside
|
| Underlying basket: | iShares MSCI EAFE ETF (60% weight) and iShares MSCI Emerging Markets ETF (40% weight)
|
| Amount: | $655,000
|
| Maturity: | Jan. 3, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any basket gain, capped at 40%; par if basket falls by up to 10%; 1% loss for each 1% decline beyond 10%
|
| Initial levels: | $69.12 for iShares MSCI EAFE and $44.77 for iShares MSCI EM
|
| Buffer levels: | 90% of initial levels
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 3
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 3.94%
|
| Cusip: | 78015KBZ6
|
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