Published on 5/4/2023 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.72 million leveraged buffered basket-linked notes on weighted index basket
By Wendy Van Sickle
Columbus, Ohio, May 4 – Royal Bank of Canada priced $2.72 million of 0% leveraged buffered notes due July 19, 2024 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with an 12% weight and the S&P/ASX 200 index with an 9% weight.
The payout at maturity will be par plus 200% of the basket gain, subject to a maximum return of par plus 20.68%.
Investors will receive par if the basket finishes flat or falls by up to 15% and will lose 1.1765% for every 1% decline beyond the 15% buffer.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Leveraged buffered basket-linked notes
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Underlying indexes: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 index (17% weight), Swiss Market index (12% weight) and S&P/ASX 200 index (9% weight)
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Amount: | $2,716,000
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Maturity: | July 19, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 200% of basket gain, capped at par plus 20.68%; par if basket finishes flat or declines by up to 15%; otherwise, 1.1765% loss for every 1% decline beyond 15%
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Initial levels: | 4,358.05 for Stoxx, 2,032.51 for Tokyo, 7,831.58 for FTSE, 11,361.89 for Swiss, 7,292.748 for S&P/ASX
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Buffer level: | 85% of initial level
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Pricing date: | April 27
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Settlement date: | May 4
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Agent: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78016HZP8
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