Published on 4/3/2024 in the Prospect News Structured Products Daily.
New Issue: RBC sells $9.38 million capped buffered return enhanced notes on basket
By Wendy Van Sickle
Columbus, Ohio, April 3 – Royal Bank of Canada priced $9.38 million of 0% capped buffered return enhanced notes due Sept. 29, 2025 linked to an equally weighted basket of 17 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Applied Materials, Inc., Advanced Micro Devices, Inc., Amazon.com, Inc., Salesforce, Inc., CrowdStrike Holdings, Inc., CyberArk Software Ltd., Datadog, Inc., Equinix, Inc., Alphabet Inc., Marvell Technology, Inc., Microsoft Corp., ServiceNow, Inc., Nvidia Corp., Oracle Corp., Quanta Services, Inc., Shopify Inc.and Snowflake Inc.
If the basket finishes above its initial level, the payout at maturity will be par plus 200% of the basket return, subject to a maximum upside return of par plus 25.86%.
If the final level of the basket falls by up to 15%, the payout will be par.
If the final level of the basket is less than its initial level by more than 15%, investors will lose 1.1765% for every 1% that the basket declines beyond 15%.
RBC Capital Markets, LLC is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Capped buffered return enhanced notes
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| Underlying basket: | Applied Materials, Inc., Advanced Micro Devices, Inc., Amazon.com, Inc., Salesforce, Inc., CrowdStrike Holdings, Inc., CyberArk Software Ltd., Datadog, Inc., Equinix, Inc., Alphabet Inc., Marvell Technology, Inc., Microsoft Corp., ServiceNow, Inc., Nvidia Corp., Oracle Corp., Quanta Services, Inc., Shopify Inc. and Snowflake Inc.
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| Amount: | $9,382,000
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| Maturity: | Sept. 29, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes above initial level, par plus 200% of basket return, subject to maximum upside return of par plus 25.86%; if the basket falls by up to 15%, par; otherwise, 1.1765% loss for every 1% that the basket declines beyond 15%
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| Initial levels: | $208.46 for Applied Materials, $179.71 for Amazon, $178.63 for AMD, $306.06 for Salesforce, $122.66 for Datadog, $792.52 for Equinix, $150.07 for Alphabet, $66.12 for Marvell, $422.86 for Microsoft, $774.64 for ServiceNow, $950.02 for Nvidia, $158.14 for Snowflake, $255.54 for Quanta, $78.42 for Shopify, $324.76 for CrowdStrike, $265.30 for CyberArk, $126.08 for Oracle
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| Buffer level: | 85% of initial levels
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| Pricing date: | March 25
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| Settlement date: | March 28
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| Agent: | RBC Capital Markets, LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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| Fees: | 1.25%
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| Cusip: | 78017FJK0
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