Published on 11/7/2023 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.8 million leveraged buffered notes on weighted index basket
By Wendy Van Sickle
Columbus, Ohio, Nov. 7 – Royal Bank of Canada priced $2.8 million of 0% leveraged notes due Dec. 19, 2025 linked to a 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, up to par plus 55.1%.
Investors will receive par if the basket falls by up to 20% and will lose 1.25% for each 1% basket decline beyond 20%.
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: | $2,796,000
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Maturity: | Dec. 19, 2025
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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, up to par plus 55.1%; par if basket falls by up to 20%; 1.25% loss for each 1% basket decline beyond 20%
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Initial levels: | 4,061.12 for Stoxx, 2,253.72 for Topix, 7,321.72 for FTSE, 10,391.16 for Swiss and 6,780.678 for S&P/ASX
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Pricing date: | Oct. 31
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Settlement date: | Nov. 7
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Agent: | RBC Capital Markets, LLC
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Fees: | 0%
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Cusip: | 78016N2P1
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