Published on 9/19/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $7.79 million accelerated return notes linked to Disney
By William Gullotti
Buffalo, N.Y., Sept. 19 – Royal Bank of Canada priced $7.79 million of 0% Accelerated Return Notes due Nov. 29, 2024 linked to the stock performance of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any gain, capped at par plus 26.91%.
Investors will be exposed to any stock decline.
BofA Securities, Inc. is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Accelerated Return Notes
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| Underlying stock: | Walt Disney Co.
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| Amount: | $7,788,730
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| Maturity: | Nov. 29, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 300% of any gain, capped at par plus 26.91%; otherwise, full exposure to any decline
|
| Initial value: | $84.07
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 21
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 1.75%
|
| Cusip: | 78074B847
|
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