Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $587,000 notes linked to 35 Raymond James securities selections
By Kiku Steinfeld
Chicago, Dec. 12 – Royal Bank of Canada priced $587,000 of 0% notes linked to Raymond James securities selections due April 24, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to an equally-weighted basket of 35 stocks selected by Raymond James & Associates, Inc.
The reference shares are Abbott Laboratories, Analog Devices, Inc., APA Corp., Avnet, Inc., Broadridge Financial Solutions, Inc., Cigna Group, CVS Health Corp., Dell Technologies Inc., Diamondback Energy, Inc., Digital Realty Trust, Inc., Darden Restaurants, Inc., Extra Space Storage Inc., Federal Realty Investment Trust, Gaming and Leisure Properties, Inc., Graphic Packaging Holding Co., Hartford Financial Services Group, Inc., Johnson & Johnson, LKQ Corp., Microchip Technology Inc., Marathon Petroleum Corp., NXP Semiconductors NV, PotlatchDeltic Corp., Procter & Gamble Co., Phillips 66, Republic Services, Inc., Target Corp., Travelers Cos., Inc., Tractor Supply Co., Texas Roadhouse, Inc., Union Pacific Corp., United Parcel Service, Inc., Valero Energy Corp., Wells Fargo & Co., Waste Management, Inc. and Walmart Inc.
Interest, if any, will be paid quarterly based on the dividends on each of the stocks during that quarter. For each $1,000 principal amount, the payment will equal 96.6% of the sum of the dividend amounts for each of the reference stocks.
The payout at maturity will be par multiplied by 96.6% multiplied by the basket level percentage. Because of the participation rate, investors will receive less than par if the basket does not gain by at least 1.0352%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Notes linked to Raymond James securities selections
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| Underlying stocks: | Abbott Laboratories, Analog Devices, Inc., APA Corp., Avnet, Inc., Broadridge Financial Solutions, Inc., Cigna Group, CVS Health Corp., Dell Technologies Inc., Diamondback Energy, Inc., Digital Realty Trust, Inc., Darden Restaurants, Inc., Extra Space Storage Inc., Federal Realty Investment Trust, Gaming and Leisure Properties, Inc., Graphic Packaging Holding Co., Hartford Financial Services Group, Inc., Johnson & Johnson, LKQ Corp., Microchip Technology Inc., Marathon Petroleum Corp., NXP Semiconductors NV, PotlatchDeltic Corp., Procter & Gamble Co., Phillips 66, Republic Services, Inc., Target Corp., Travelers Cos., Inc., Tractor Supply Co., Texas Roadhouse, Inc., Union Pacific Corp., United Parcel Service, Inc., Valero Energy Corp., Wells Fargo & Co., Waste Management, Inc. and Walmart Inc.; equally weighted
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| Amount: | $587,000
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| Maturity: | April 24, 2025
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| Coupon: | Interest, if any, will be paid quarterly based on the dividends on each of the stocks during that quarter. For each $1,000 principal amount, the payment will equal 96.6% of the sum of the dividend amounts for each of the reference stocks
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| Price: | Par of $1,000
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| Payout at maturity: | Par times 96.6% times the basket level percentage; because of participation rate, investors will receive less than par if the basket does not gain by at least 1.0352%
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| Initial share prices: | $111.66 for Abbott, $186.34 for Analog, $37.23 for APA, $41.58 for Avnet, $143.69 for Broadridge, $252.12 for Cigna, $72.84 for CVS, $43.11 for Dell, $141.09 for Diamondback, $96.64 for Digital, $151.85 for Darden, $151.16 for Extra Space, $97.28 for Federal, $51.85 for Gaming, $24.42 for Graphic, $69.54 for Hartford, $162.69 for Johnson, $56.60 for LKQ, $76.80 for Microchip, $123.53 for Marathon, $169.82 for NXP, $47.78 for PotlatchDeltic, $156.07 for Procter, $100.15 for Phillips, $138.61 for Republic, $162.18 for Target, $179.50 for Travelers, $248.59 for Tractor, $109.9 for Texas, $198.85 for Union, $195.21 for UPS, $119.63 for Valero, $41.24 for Wells, $165.15 for Waste, $151.73 for Walmart
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| Pricing date: | April 21, 2023
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| Settlement date: | April 26, 2023
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| Agents: | RBC Capital Markets, LLC
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| Fees: | 2%
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| Cusip: | 78015QEN7
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