[Form 4] Mid Penn Bancorp, Inc. Insider Trading Activity

Q: What is the maximum return on Royal Bank of Canada’s Capped Enhanced Return Buffer Notes (RY)?

The maximum payment at maturity is $1,241.50 per $1,000 note, equal to a 24.15% return.

Q: How does the 10% downside buffer work on the RBC notes?

If the basket falls up to 10%, investors receive full principal; losses begin only when the decline exceeds that threshold.

Q: Which indices make up the six-asset basket and what are their weights?

EURO STOXX 50 40%, Nikkei 225 20%, FTSE 100 20%, S&amp;P/ASX 200 7.5%, Swiss Market Index 7.5%, FTSE China 50 5%.

Q: When do the notes mature and what is the valuation date?

Valuation date is June 30 2027; maturity payment is due July 6 2027.

Q: Are the notes listed on an exchange or FDIC insured?

No. They are not exchange-listed and are neither CDIC nor FDIC insured.

Q: What is the minimum investment for these structured notes?

The notes are issued in $1,000 denominations; the minimum purchase is $1,000.

Q: How does the initial estimated value compare with the issue price?

RBC estimates the value at $966.72 per $1,000, about 3.3% below the public offering price.

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Royal Bank of Canada (RY) – $550,000 Capped Enhanced Return Buffer Notes, due July 6 2027

The 424B2 pricing supplement outlines a small structured-note issuance that gives investors market exposure to an unequally weighted basket of six global equity indices: EURO STOXX 50 (40%), Nikkei 225 (20%), FTSE 100 (20%), S&P/ASX 200 (7.5%), Swiss Market Index (7.5%) and FTSE China 50 (5%). The notes are senior unsecured obligations of Royal Bank of Canada and form part of the bank’s Senior Global Medium-Term Notes, Series J program.

Return profile

Participation rate: 200% of any positive basket performance.
Maximum return: 24.15% (payment cap of $1,241.50 per $1,000 note).
Downside buffer: First 10% decline protected; below 90% of the initial basket value, principal is reduced 1-for-1 with additional downside.
No coupons: the notes do not pay periodic interest.

Key terms

Trade date: June 30 2025; Issue date: July 3 2025; Valuation date: June 30 2027; Maturity: July 6 2027.
Denominations: $1,000 (minimum investment $1,000).
Public offering price: 100% of face; underwriting discount 2.25% (proceeds 97.75%).
Initial estimated value: $966.72 per $1,000 (3.33% below issue price).
Listing: none; secondary market, if any, will be made solely by RBC Capital Markets, LLC.
CUSIP: 78017PAU5.

Risk highlights

Investors may lose up to 90% of principal if the basket falls more than 10% at maturity.
Upside is capped at 24.15%, so returns may lag a direct equity investment.
No interim liquidity guarantee; secondary market likely limited and at a material discount.
Credit exposure to Royal Bank of Canada; the notes are not CDIC or FDIC insured and are not bail-inable.
Initial estimated value below issue price reflects dealer margin, hedging costs and RBC’s internal funding rate.

Use-case The notes suit investors with a moderately bullish two-year view on large-cap non-U.S. equities who desire a 10% downside buffer and are willing to relinquish upside beyond ~24% and accept issuer credit and liquidity risk.

Royal Bank of Canada (RY) – Note a Rendimento Incrementato con Limite e Protezione del Capitale da $550.000, scadenza 6 luglio 2027

Il supplemento di prezzo 424B2 descrive un'emissione limitata di note strutturate che offrono agli investitori un'esposizione di mercato su un paniere ponderato in modo diseguale composto da sei indici azionari globali: EURO STOXX 50 (40%), Nikkei 225 (20%), FTSE 100 (20%), S&P/ASX 200 (7,5%), Swiss Market Index (7,5%) e FTSE China 50 (5%). Le note sono obbligazioni senior non garantite del Royal Bank of Canada e fanno parte del programma Senior Global Medium-Term Notes, Serie J della banca.

Profilo di rendimento

Tasso di partecipazione: 200% di qualsiasi performance positiva del paniere.
Rendimento massimo: 24,15% (massimo pagamento di $1.241,50 per ogni nota da $1.000).
Protezione dalle perdite: primo 10% di ribasso protetto; sotto il 90% del valore iniziale del paniere, il capitale si riduce in modo proporzionale 1 a 1 con ulteriori ribassi.
Nessuna cedola: le note non pagano interessi periodici.

Termini principali

Data di negoziazione: 30 giugno 2025; Data di emissione: 3 luglio 2025; Data di valutazione: 30 giugno 2027; Scadenza: 6 luglio 2027.
Taglio minimo: $1.000 (investimento minimo $1.000).
Prezzo di offerta pubblica: 100% del valore nominale; sconto di sottoscrizione 2,25% (proventi 97,75%).
Valore stimato iniziale: $966,72 per $1.000 (3,33% sotto il prezzo di emissione).
Quotazione: nessuna; il mercato secondario, se presente, sarà gestito esclusivamente da RBC Capital Markets, LLC.
CUSIP: 78017PAU5.

Principali rischi

Gli investitori possono perdere fino al 90% del capitale se il paniere scende oltre il 10% alla scadenza.
Il rendimento massimo è limitato al 24,15%, quindi i guadagni potrebbero essere inferiori rispetto a un investimento azionario diretto.
Non è garantita la liquidità intermedia; il mercato secondario sarà probabilmente limitato e a un prezzo scontato significativo.
Rischio di credito legato al Royal Bank of Canada; le note non sono assicurate da CDIC o FDIC e non sono soggette a bail-in.
Il valore stimato iniziale inferiore al prezzo di emissione riflette il margine del dealer, i costi di copertura e il tasso di finanziamento interno di RBC.

Utilizzo consigliato Le note sono adatte a investitori con una visione moderatamente rialzista a due anni sulle azioni large-cap non statunitensi, che desiderano una protezione del 10% contro le perdite e sono disposti a rinunciare a rendimenti superiori al ~24%, accettando il rischio di credito dell’emittente e di liquidità.

Royal Bank of Canada (RY) – Notas Mejoradas con Retorno Limitado y Protección de $550,000, vencimiento 6 de julio de 2027

El suplemento de precios 424B2 detalla una pequeña emisión de notas estructuradas que ofrecen a los inversores exposición a un índice ponderado de forma desigual compuesto por seis índices bursátiles globales: EURO STOXX 50 (40%), Nikkei 225 (20%), FTSE 100 (20%), S&P/ASX 200 (7.5%), Swiss Market Index (7.5%) y FTSE China 50 (5%). Las notas son obligaciones senior no garantizadas del Royal Bank of Canada y forman parte del programa Senior Global Medium-Term Notes, Serie J del banco.

Perfil de retorno

Tasa de participación: 200% de cualquier rendimiento positivo del índice.
Retorno máximo: 24.15% (tope de pago de $1,241.50 por cada nota de $1,000).
Protección a la baja: protege la primera caída del 10%; por debajo del 90% del valor inicial del índice, el principal se reduce 1 a 1 con caídas adicionales.
Sin cupones: las notas no pagan intereses periódicos.

Términos clave

Fecha de negociación: 30 de junio de 2025; Fecha de emisión: 3 de julio de 2025; Fecha de valoración: 30 de junio de 2027; Vencimiento: 6 de julio de 2027.
Denominaciones: $1,000 (inversión mínima $1,000).
Precio de oferta pública: 100% del valor nominal; descuento de suscripción 2.25% (ingresos 97.75%).
Valor estimado inicial: $966.72 por $1,000 (3.33% por debajo del precio de emisión).
Listado: ninguno; el mercado secundario, si existe, será gestionado exclusivamente por RBC Capital Markets, LLC.
CUSIP: 78017PAU5.

Aspectos de riesgo

Los inversores pueden perder hasta el 90% del principal si el índice cae más del 10% al vencimiento.
El rendimiento máximo está limitado al 24.15%, por lo que los retornos pueden ser inferiores a una inversión directa en acciones.
No hay garantía de liquidez intermedia; el mercado secundario probablemente sea limitado y con un descuento significativo.
Exposición crediticia al Royal Bank of Canada; las notas no están aseguradas por CDIC o FDIC y no son sujetas a rescate bancario (bail-in).
El valor estimado inicial por debajo del precio de emisión refleja el margen del distribuidor, costos de cobertura y la tasa interna de financiamiento de RBC.

Uso recomendado Las notas son adecuadas para inversores con una visión moderadamente alcista a dos años sobre acciones large-cap no estadounidenses, que desean una protección del 10% a la baja y están dispuestos a renunciar a ganancias superiores al ~24%, aceptando riesgos de crédito del emisor y de liquidez.

로열 뱅크 오브 캐나다 (RY) – $550,000 한도형 향상 수익 버퍼 노트, 만기 2027년 7월 6일

424B2 가격 보충 자료는 투자자에게 6개의 글로벌 주가지수를 불균등하게 가중한 바스켓에 대한 시장 노출을 제공하는 소규모 구조화 노트 발행을 설명합니다: EURO STOXX 50 (40%), 닛케이 225 (20%), FTSE 100 (20%), S&P/ASX 200 (7.5%), 스위스 마켓 지수 (7.5%), FTSE 차이나 50 (5%). 이 노트는 로열 뱅크 오브 캐나다의 선순위 무담보 채무이며, 은행의 Senior Global Medium-Term Notes, 시리즈 J 프로그램의 일부입니다.

수익 프로필

참여율: 바스켓의 긍정적 성과에 대해 200% 참여.
최대 수익: 24.15% (노트 $1,000당 최대 지급액 $1,241.50).
하락 보호: 최초 10% 하락 보호; 바스켓 초기 가치의 90% 이하일 경우, 추가 하락에 대해 원금이 1대1로 감소.
쿠폰 없음: 노트는 정기 이자를 지급하지 않음.

주요 조건

거래일: 2025년 6월 30일; 발행일: 2025년 7월 3일; 평가일: 2027년 6월 30일; 만기일: 2027년 7월 6일.
액면가: $1,000 (최소 투자금액 $1,000).
공개 발행 가격: 액면가의 100%; 인수 수수료 2.25% (수익 97.75%).
초기 예상 가치: $1,000당 $966.72 (발행가 대비 3.33% 낮음).
상장: 없음; 2차 시장은 RBC Capital Markets, LLC가 단독으로 운영.
CUSIP: 78017PAU5.

위험 요약

만기 시 바스켓이 10% 이상 하락하면 투자자는 최대 90%의 원금 손실 가능.
상승 수익은 24.15%로 제한되어 직접 주식 투자보다 수익이 낮을 수 있음.
중간 유동성 보장 없음; 2차 시장은 제한적이며 상당한 할인 가격에 거래될 가능성 높음.
로열 뱅크 오브 캐나다에 대한 신용 위험; 노트는 CDIC 또는 FDIC 보험이 없으며 베일인 대상 아님.
초기 예상 가치가 발행가보다 낮은 것은 딜러 마진, 헤지 비용 및 RBC 내부 자금 조달 금리를 반영.

사용 사례 이 노트는 대형 비미국 주식에 대해 2년간 다소 강세 전망을 가진 투자자에게 적합하며, 10% 하락 보호를 원하고 약 24% 이상의 상승 수익 포기를 감수하며 발행자 신용 및 유동성 위험을 수용할 투자자에게 권장됩니다.

Royal Bank of Canada (RY) – Notes à Rendement Amélioré avec Plafond et Protection de 550 000 $, échéance 6 juillet 2027

Le supplément de prix 424B2 décrit une petite émission de notes structurées offrant aux investisseurs une exposition à un panier pondéré de manière inégale comprenant six indices boursiers mondiaux : EURO STOXX 50 (40 %), Nikkei 225 (20 %), FTSE 100 (20 %), S&P/ASX 200 (7,5 %), Swiss Market Index (7,5 %) et FTSE China 50 (5 %). Les notes sont des obligations senior non garanties de la Royal Bank of Canada et font partie du programme Senior Global Medium-Term Notes, série J de la banque.

Profil de rendement

Taux de participation : 200 % de toute performance positive du panier.
Rendement maximal : 24,15 % (plafond de paiement de 1 241,50 $ par note de 1 000 $).
Protection à la baisse : les 10 % de baisse initiaux protégés ; en dessous de 90 % de la valeur initiale du panier, le capital est réduit à raison de 1 pour 1 avec toute baisse supplémentaire.
Pas de coupons : les notes ne versent pas d’intérêts périodiques.

Conditions clés

Date de transaction : 30 juin 2025 ; Date d’émission : 3 juillet 2025 ; Date d’évaluation : 30 juin 2027 ; Échéance : 6 juillet 2027.
Montants nominaux : 1 000 $ (investissement minimum 1 000 $).
Prix d’offre publique : 100 % de la valeur nominale ; escompte de souscription de 2,25 % (produits nets 97,75 %).
Valeur estimée initiale : 966,72 $ par 1 000 $ (3,33 % en dessous du prix d’émission).
Inscription : aucune ; le marché secondaire, le cas échéant, sera assuré uniquement par RBC Capital Markets, LLC.
CUSIP : 78017PAU5.

Points clés de risque

Les investisseurs peuvent perdre jusqu’à 90 % du capital si le panier baisse de plus de 10 % à l’échéance.
Le rendement maximal est plafonné à 24,15 %, ce qui peut entraîner des performances inférieures à un investissement direct en actions.
Aucune garantie de liquidité intermédiaire ; le marché secondaire sera probablement limité et avec une décote importante.
Exposition au risque de crédit de la Royal Bank of Canada ; les notes ne sont pas assurées par la CDIC ou la FDIC et ne sont pas soumises à un mécanisme de renflouement interne (bail-in).
La valeur estimée initiale inférieure au prix d’émission reflète la marge du teneur de marché, les coûts de couverture et le taux de financement interne de RBC.

Cas d’utilisation Ces notes conviennent aux investisseurs ayant une vision modérément haussière sur les actions large caps hors États-Unis sur deux ans, souhaitant une protection à la baisse de 10 % et prêts à renoncer à un rendement supérieur à environ 24 %, tout en acceptant les risques de crédit de l’émetteur et de liquidité.

Royal Bank of Canada (RY) – $550.000 Capped Enhanced Return Buffer Notes, Fälligkeit 6. Juli 2027

Das 424B2-Preiszusatzdokument beschreibt eine kleine Emission strukturierter Schuldverschreibungen, die Anlegern Marktexposure in einem ungleich gewichteten Korb von sechs globalen Aktienindizes bieten: EURO STOXX 50 (40%), Nikkei 225 (20%), FTSE 100 (20%), S&P/ASX 200 (7,5%), Swiss Market Index (7,5%) und FTSE China 50 (5%). Die Notes sind unbesicherte Senior-Verbindlichkeiten der Royal Bank of Canada und Teil des Senior Global Medium-Term Notes, Series J Programms der Bank.

Renditeprofil

Teilnahmerate: 200% der positiven Performance des Korbs.
Maximale Rendite: 24,15% (Zahlungslimit von $1.241,50 pro $1.000 Note).
Abwärtspuffer: Erste 10% Rückgang geschützt; unter 90% des Anfangswerts des Korbs wird das Kapital 1:1 mit weiteren Verlusten reduziert.
Keine Kupons: Die Notes zahlen keine periodischen Zinsen.

Wichtige Bedingungen

Handelstag: 30. Juni 2025; Emissionstag: 3. Juli 2025; Bewertungsdatum: 30. Juni 2027; Fälligkeit: 6. Juli 2027.
Nennwerte: $1.000 (Mindestanlage $1.000).
Öffentlicher Angebotspreis: 100% des Nennwerts; Underwriting-Discount 2,25% (Erträge 97,75%).
Geschätzter Anfangswert: $966,72 pro $1.000 (3,33% unter Ausgabepreis).
Notierung: keine; Sekundärmarkt, falls vorhanden, wird ausschließlich von RBC Capital Markets, LLC bereitgestellt.
CUSIP: 78017PAU5.

Risikohinweise

Anleger können bis zu 90% des Kapitals verlieren, wenn der Korb bei Fälligkeit um mehr als 10% fällt.
Die Aufwärtsrendite ist auf 24,15% begrenzt, daher können die Erträge hinter einer direkten Aktienanlage zurückbleiben.
Keine Zwischenliquiditätsgarantie; Sekundärmarkt wahrscheinlich begrenzt und mit erheblichem Abschlag.
Kreditrisiko gegenüber Royal Bank of Canada; die Notes sind weder CDIC- noch FDIC-versichert und nicht bail-in-fähig.
Der geschätzte Anfangswert unter dem Ausgabepreis spiegelt die Händler-Marge, Absicherungskosten und RBCs interne Finanzierungskosten wider.

Anwendungsfall Die Notes eignen sich für Anleger mit moderat bullisher Zwei-Jahres-Sicht auf Large-Cap-Aktien außerhalb der USA, die einen 10%igen Abwärtspuffer wünschen und bereit sind, auf Renditen über ~24% zu verzichten sowie Emittenten-Kredit- und Liquiditätsrisiken zu akzeptieren.

Positive

200% participation rate on upside provides leveraged exposure versus direct index investment.
10% downside buffer protects principal against modest market declines.
Diversified global basket mitigates single-region concentration risk.

Negative

Maximum return capped at 24.15%, limiting gains even if indices rally strongly.
No periodic interest; total return depends solely on basket performance at maturity.
Potential principal loss beyond 10% downside; losses accelerate 1-for-1 thereafter.
Issuer credit risk; note is an unsecured obligation of RBC and not insured.
Illiquidity; no exchange listing and uncertain secondary market.
Initial estimated value (96.672%) is materially below issue price, highlighting embedded costs.

Insights

TL;DR: Two-year note offers 200% upside to 24.15% with 10% buffer; small size, neutral impact on RY.

Credit perspective: At only $0.55 million, the issuance is immaterial to RBC’s funding mix and capital ratios, implying no measurable balance-sheet impact.

Investor economics: The 200% participation looks attractive but is materially offset by the 24.15% cap. Given the historical two-year volatility of the basket (~15-18%), probability-weighted models suggest a modest expected value after fees. The 10% buffer provides limited protection in high-volatility sell-offs, and the note’s mark-to-market is likely to trade below par during adverse markets due to both delta and widening credit spreads.

Liquidity & valuation: No exchange listing and a single dealer market create meaningful bid-ask risk. The initial estimated value (96.672%) confirms that investors pay roughly 333 bps in upfront costs.

Regulatory/tax: Section 871(m) is deemed not to apply; U.S. investors face open-transaction taxation, but treatment remains uncertain. These factors make the product appropriate only for fee-tolerant, buy-and-hold accounts.

Royal Bank of Canada (RY) – Note a Rendimento Incrementato con Limite e Protezione del Capitale da $550.000, scadenza 6 luglio 2027

Profilo di rendimento

Tasso di partecipazione: 200% di qualsiasi performance positiva del paniere.
Rendimento massimo: 24,15% (massimo pagamento di $1.241,50 per ogni nota da $1.000).
Protezione dalle perdite: primo 10% di ribasso protetto; sotto il 90% del valore iniziale del paniere, il capitale si riduce in modo proporzionale 1 a 1 con ulteriori ribassi.
Nessuna cedola: le note non pagano interessi periodici.

Termini principali

Data di negoziazione: 30 giugno 2025; Data di emissione: 3 luglio 2025; Data di valutazione: 30 giugno 2027; Scadenza: 6 luglio 2027.
Taglio minimo: $1.000 (investimento minimo $1.000).
Prezzo di offerta pubblica: 100% del valore nominale; sconto di sottoscrizione 2,25% (proventi 97,75%).
Valore stimato iniziale: $966,72 per $1.000 (3,33% sotto il prezzo di emissione).
Quotazione: nessuna; il mercato secondario, se presente, sarà gestito esclusivamente da RBC Capital Markets, LLC.
CUSIP: 78017PAU5.

Principali rischi

Gli investitori possono perdere fino al 90% del capitale se il paniere scende oltre il 10% alla scadenza.
Il rendimento massimo è limitato al 24,15%, quindi i guadagni potrebbero essere inferiori rispetto a un investimento azionario diretto.
Non è garantita la liquidità intermedia; il mercato secondario sarà probabilmente limitato e a un prezzo scontato significativo.
Rischio di credito legato al Royal Bank of Canada; le note non sono assicurate da CDIC o FDIC e non sono soggette a bail-in.
Il valore stimato iniziale inferiore al prezzo di emissione riflette il margine del dealer, i costi di copertura e il tasso di finanziamento interno di RBC.

Royal Bank of Canada (RY) – Notas Mejoradas con Retorno Limitado y Protección de $550,000, vencimiento 6 de julio de 2027

Perfil de retorno

Tasa de participación: 200% de cualquier rendimiento positivo del índice.
Retorno máximo: 24.15% (tope de pago de $1,241.50 por cada nota de $1,000).
Protección a la baja: protege la primera caída del 10%; por debajo del 90% del valor inicial del índice, el principal se reduce 1 a 1 con caídas adicionales.
Sin cupones: las notas no pagan intereses periódicos.

Términos clave

Fecha de negociación: 30 de junio de 2025; Fecha de emisión: 3 de julio de 2025; Fecha de valoración: 30 de junio de 2027; Vencimiento: 6 de julio de 2027.
Denominaciones: $1,000 (inversión mínima $1,000).
Precio de oferta pública: 100% del valor nominal; descuento de suscripción 2.25% (ingresos 97.75%).
Valor estimado inicial: $966.72 por $1,000 (3.33% por debajo del precio de emisión).
Listado: ninguno; el mercado secundario, si existe, será gestionado exclusivamente por RBC Capital Markets, LLC.
CUSIP: 78017PAU5.

Aspectos de riesgo

Los inversores pueden perder hasta el 90% del principal si el índice cae más del 10% al vencimiento.
El rendimiento máximo está limitado al 24.15%, por lo que los retornos pueden ser inferiores a una inversión directa en acciones.
No hay garantía de liquidez intermedia; el mercado secundario probablemente sea limitado y con un descuento significativo.
Exposición crediticia al Royal Bank of Canada; las notas no están aseguradas por CDIC o FDIC y no son sujetas a rescate bancario (bail-in).
El valor estimado inicial por debajo del precio de emisión refleja el margen del distribuidor, costos de cobertura y la tasa interna de financiamiento de RBC.

로열 뱅크 오브 캐나다 (RY) – $550,000 한도형 향상 수익 버퍼 노트, 만기 2027년 7월 6일

수익 프로필

참여율: 바스켓의 긍정적 성과에 대해 200% 참여.
최대 수익: 24.15% (노트 $1,000당 최대 지급액 $1,241.50).
하락 보호: 최초 10% 하락 보호; 바스켓 초기 가치의 90% 이하일 경우, 추가 하락에 대해 원금이 1대1로 감소.
쿠폰 없음: 노트는 정기 이자를 지급하지 않음.

주요 조건

거래일: 2025년 6월 30일; 발행일: 2025년 7월 3일; 평가일: 2027년 6월 30일; 만기일: 2027년 7월 6일.
액면가: $1,000 (최소 투자금액 $1,000).
공개 발행 가격: 액면가의 100%; 인수 수수료 2.25% (수익 97.75%).
초기 예상 가치: $1,000당 $966.72 (발행가 대비 3.33% 낮음).
상장: 없음; 2차 시장은 RBC Capital Markets, LLC가 단독으로 운영.
CUSIP: 78017PAU5.

위험 요약

만기 시 바스켓이 10% 이상 하락하면 투자자는 최대 90%의 원금 손실 가능.
상승 수익은 24.15%로 제한되어 직접 주식 투자보다 수익이 낮을 수 있음.
중간 유동성 보장 없음; 2차 시장은 제한적이며 상당한 할인 가격에 거래될 가능성 높음.
로열 뱅크 오브 캐나다에 대한 신용 위험; 노트는 CDIC 또는 FDIC 보험이 없으며 베일인 대상 아님.
초기 예상 가치가 발행가보다 낮은 것은 딜러 마진, 헤지 비용 및 RBC 내부 자금 조달 금리를 반영.

Royal Bank of Canada (RY) – Notes à Rendement Amélioré avec Plafond et Protection de 550 000 $, échéance 6 juillet 2027

Profil de rendement

Taux de participation : 200 % de toute performance positive du panier.
Rendement maximal : 24,15 % (plafond de paiement de 1 241,50 $ par note de 1 000 $).
Protection à la baisse : les 10 % de baisse initiaux protégés ; en dessous de 90 % de la valeur initiale du panier, le capital est réduit à raison de 1 pour 1 avec toute baisse supplémentaire.
Pas de coupons : les notes ne versent pas d’intérêts périodiques.

Conditions clés

Date de transaction : 30 juin 2025 ; Date d’émission : 3 juillet 2025 ; Date d’évaluation : 30 juin 2027 ; Échéance : 6 juillet 2027.
Montants nominaux : 1 000 $ (investissement minimum 1 000 $).
Prix d’offre publique : 100 % de la valeur nominale ; escompte de souscription de 2,25 % (produits nets 97,75 %).
Valeur estimée initiale : 966,72 $ par 1 000 $ (3,33 % en dessous du prix d’émission).
Inscription : aucune ; le marché secondaire, le cas échéant, sera assuré uniquement par RBC Capital Markets, LLC.
CUSIP : 78017PAU5.

Points clés de risque

Les investisseurs peuvent perdre jusqu’à 90 % du capital si le panier baisse de plus de 10 % à l’échéance.
Le rendement maximal est plafonné à 24,15 %, ce qui peut entraîner des performances inférieures à un investissement direct en actions.
Aucune garantie de liquidité intermédiaire ; le marché secondaire sera probablement limité et avec une décote importante.
Exposition au risque de crédit de la Royal Bank of Canada ; les notes ne sont pas assurées par la CDIC ou la FDIC et ne sont pas soumises à un mécanisme de renflouement interne (bail-in).
La valeur estimée initiale inférieure au prix d’émission reflète la marge du teneur de marché, les coûts de couverture et le taux de financement interne de RBC.

Royal Bank of Canada (RY) – $550.000 Capped Enhanced Return Buffer Notes, Fälligkeit 6. Juli 2027

Renditeprofil

Teilnahmerate: 200% der positiven Performance des Korbs.
Maximale Rendite: 24,15% (Zahlungslimit von $1.241,50 pro $1.000 Note).
Abwärtspuffer: Erste 10% Rückgang geschützt; unter 90% des Anfangswerts des Korbs wird das Kapital 1:1 mit weiteren Verlusten reduziert.
Keine Kupons: Die Notes zahlen keine periodischen Zinsen.

Wichtige Bedingungen

Handelstag: 30. Juni 2025; Emissionstag: 3. Juli 2025; Bewertungsdatum: 30. Juni 2027; Fälligkeit: 6. Juli 2027.
Nennwerte: $1.000 (Mindestanlage $1.000).
Öffentlicher Angebotspreis: 100% des Nennwerts; Underwriting-Discount 2,25% (Erträge 97,75%).
Geschätzter Anfangswert: $966,72 pro $1.000 (3,33% unter Ausgabepreis).
Notierung: keine; Sekundärmarkt, falls vorhanden, wird ausschließlich von RBC Capital Markets, LLC bereitgestellt.
CUSIP: 78017PAU5.

Risikohinweise

Anleger können bis zu 90% des Kapitals verlieren, wenn der Korb bei Fälligkeit um mehr als 10% fällt.
Die Aufwärtsrendite ist auf 24,15% begrenzt, daher können die Erträge hinter einer direkten Aktienanlage zurückbleiben.
Keine Zwischenliquiditätsgarantie; Sekundärmarkt wahrscheinlich begrenzt und mit erheblichem Abschlag.
Kreditrisiko gegenüber Royal Bank of Canada; die Notes sind weder CDIC- noch FDIC-versichert und nicht bail-in-fähig.
Der geschätzte Anfangswert unter dem Ausgabepreis spiegelt die Händler-Marge, Absicherungskosten und RBCs interne Finanzierungskosten wider.

07/02/2025 - 10:41 AM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MOWERY THEODORE W

(Last)

(First)

(Middle)

2407 PARK DRIVE

(Street)

HARRISBURG

17110

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
MID PENN BANCORP INC [ MPB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Mid Penn Bancorp, Inc. Common Stock	06/30/2025		P		71⁽¹⁾	A	$28.2	39,383.216⁽²⁾	D
Mid Penn Bancorp, Inc. Common Stock								21,974.101⁽²⁾	I	IRA
Mid Penn Bancorp, Inc. Common Stock								250	I	By spouse
Mid Penn Bancorp, Inc. Common Restricted Stock								1,945⁽³⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Shares purchased through the Director Stock Purchase Plan.

2. Balance includes shares acquired through the Dividend Reinvestment Plan.

3. Shares granted in the form of restricted stock, which vests 100% on the first anniversary of the date of grant.

Remarks:

	/s/ Theodore W. Mowery	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What is the maximum return on Royal Bank of Canada’s Capped Enhanced Return Buffer Notes (RY)?

The maximum payment at maturity is $1,241.50 per $1,000 note, equal to a 24.15% return.

How does the 10% downside buffer work on the RBC notes?

If the basket falls up to 10%, investors receive full principal; losses begin only when the decline exceeds that threshold.

Which indices make up the six-asset basket and what are their weights?

EURO STOXX 50 40%, Nikkei 225 20%, FTSE 100 20%, S&P/ASX 200 7.5%, Swiss Market Index 7.5%, FTSE China 50 5%.

When do the notes mature and what is the valuation date?

Valuation date is June 30 2027; maturity payment is due July 6 2027.

Are the notes listed on an exchange or FDIC insured?

No. They are not exchange-listed and are neither CDIC nor FDIC insured.

What is the minimum investment for these structured notes?

The notes are issued in $1,000 denominations; the minimum purchase is $1,000.

How does the initial estimated value compare with the issue price?

RBC estimates the value at $966.72 per $1,000, about 3.3% below the public offering price.

[Form 4] Mid Penn Bancorp, Inc. Insider Trading Activity

Insights

FAQ

What is the maximum return on Royal Bank of Canada’s Capped Enhanced Return Buffer Notes (RY)?

How does the 10% downside buffer work on the RBC notes?

Which indices make up the six-asset basket and what are their weights?

When do the notes mature and what is the valuation date?

Are the notes listed on an exchange or FDIC insured?

What is the minimum investment for these structured notes?

How does the initial estimated value compare with the issue price?

NASDAQ:MPB

MPB Rankings

MPB Latest News

MPB Latest SEC Filings

MPB Stock Data

Trending News

[Form 4] Mid Penn Bancorp, Inc. Insider Trading Activity

Insights

Structured Products Analyst neutral

FAQ

What is the maximum return on Royal Bank of Canada’s Capped Enhanced Return Buffer Notes (RY)?

How does the 10% downside buffer work on the RBC notes?

Which indices make up the six-asset basket and what are their weights?

When do the notes mature and what is the valuation date?

Are the notes listed on an exchange or FDIC insured?

What is the minimum investment for these structured notes?

How does the initial estimated value compare with the issue price?

NASDAQ:MPB

MPB Rankings

MPB Latest News

MPB Latest SEC Filings

MPB Stock Data