Referral from an exec for IB internship

I'm in a pretty unusual situation and I'm looking for opinions so here I go:

Sophomore at semi target recruiting for IB. I'm a STEM major with a 3.7+ and decent extracurriculars for finance purposes. So I've been networking at a handful of BB, EB, and MM banks. As it turns out, one my parents' really close friends is a C-level exec at a BB/EB bank. I was able to get on the phone with them and the person told me that they'd submit a referral/reference for 2021 IB summer internship.

So now, my parents seem convinced that I've got an internship at this place in the bag as long as I go through the interviews fairly well prepared. But I still feel very nervous about my chances there and I'm still trying to network and interview wherever I can.

Does a referral from someone that high up generally translate to a job? Or will it really just lead to a first rounder at best? Should I still be busting my balls to get interviews wherever I can?

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