Published on 3/5/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $549,000 barrier enhanced return notes linked to Stoxx indexes
By Kiku Steinfeld
Chicago, March 5 – Royal Bank of Canada priced $549,000 of 0% barrier enhanced return notes due June 28, 2028 linked to the Stoxx Europe 600 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index return is positive, the payout at maturity will be par plus 237% of the return. Investors will receive par if the lesser-performing index declines by 30% or less. If the lesser-performing index declines by more than 30%, investors will lose 1% for every 1% that the lesser-performing index declines from initial level.
RBC Capital Markets, LLC is the selling agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier enhanced return notes
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Underlying indexes: | Euro Stoxx 50 index, Stoxx Europe 600 index
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Amount: | $549,000
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Maturity: | June 28, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is positive, par plus 237% of lesser-performing index return; par if lesser-performing index declines by 30% or less; otherwise, 1% loss for every 1% that lesser-performing index declines from initial level
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Initial levels: | 4,271.61 for Euro Stoxx 50, 453.14 for Stoxx Europe 600
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Barrier levels: | 2,990.13 for Euro Stoxx 50, 317.20 for Stoxx Europe 600; 70% of initial levels
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Pricing date: | June 23, 2023
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Settlement date: | June 28, 2023
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Selling agent: | RBC Capital Markets, LLC
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Fees: | 0%
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Cusip: | 78016NFZ5
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