By Sarah Lizee
Olympia, Wash., April 24 – Royal Bank of Canada priced $217,000 of 0% market-linked securities with leveraged upside participation to a cap and contingent downside due April 22, 2025 linked to an ETF basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the SPDR Dow Jones industrial average ETF trust (50% weight), SPDR S&P MidCap 400 ETF trust (30% weight) and iShares Russell 2000 ETF (20% weight).
The payout at maturity will be par plus 125% of any basket gain, subject to a 62.5% maximum gain.
Investors will receive par if the basket falls by up to 20% and will lose 1% for every 1% decline otherwise.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Market-linked securities with leveraged upside participation to a cap and contingent downside
|
| Underlying basket: | SPDR Dow Jones industrial average ETF trust (50% weight), SPDR S&P MidCap 400 ETF trust (30% weight) and iShares Russell 2000 ETF (20% weight)
|
| Amount: | $217,000
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| Maturity: | April 22, 2025
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 125% of any basket gain, subject to 62.5% maximum gain; par if the basket falls by up to 20%; 1% loss for every 1% decline if basket falls by more than 20%
|
| Initial levels: | $242.43 for Dow ETF, $284.09 for MidCap ETF and $122.06 for Russell ETF
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| Buffer level: | 80% of initial basket level
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| Pricing date: | April 17
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| Settlement date: | April 22
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 4.75%
|
| Cusip: | 78015KMZ4
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