[record_link] blank in e-mail after signup

When the signup form is submitted, the e-mail is generated for signup response e-mail but the record link is showing blank (I’ve just shown the end of the e-mail/settings). The admin e-mail shows the admin record link fine.

E-Mail Result:
private link at any time: .

Signup Form Settings (Signup Response Email):
private link at any time: [record_link].