Published on 2/5/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.25 million of buffered digital plus basket-linked notes
By William Gullotti
Buffalo, N.Y., Feb. 5 – Royal Bank of Canada priced $2.25 million of 0% buffered digital plus basket-linked notes due Feb. 3, 2026 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 a 12% weight and the S&P/ASX 200 index with a 9% weight.
If the basket finishes at or above its initial level, the payout at maturity will be par plus the greater of the basket’s return and 34%.
Investors will receive par if the basket declines by no more than 10% and will lose 1.1111% for every 1% that it declines beyond 10%.
RBC Capital Markets, LLC is the selling agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Buffered digital plus basket-linked notes
|
| Underlying indexes: | Euro Stoxx 50 index (36% weight), Topix index (26% weight), FTSE 100 index (17% weight), Swiss Market index (12% weight), S&P/ASX 200 index (9% weight)
|
| Amount: | $2,253,000
|
| Maturity: | Feb. 3, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket finishes at or above initial level, par plus the greater of the basket return and 34%; par if basket declines by no more than 10%; otherwise, 1.1111% loss for every 1% that the basket declines beyond 10%
|
| Initial levels: | 4,662.7 for Stoxx, 2,526.93 for Topix, 7,666.31 for FTSE, 11,443.13 for Swiss Market, 7,600.194 for S&P/ASX
|
| Buffer level: | 90% of initial level
|
| Pricing date: | Jan. 30
|
| Settlement date: | Feb. 6
|
| Selling agent: | RBC Capital Markets, LLC
|
| Fees: | 2%
|
| Cusip: | 78017FBX0
|
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