Published on 4/11/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.95 million notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., April 11 – Royal Bank of Canada priced $2.95 million of 0% notes due April 1, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.32 times the index return.
If the index return is zero or negative, the payout will be par.
RBC Capital Markets LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Notes
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Underlying index: | S&P 500 index
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Amount: | $2,947,000
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Maturity: | April 1, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.32 times any index gain; otherwise, par
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Initial level: | 3,971.27
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | RBC Capital Markets, LLC
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Fees: | 2.75%
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Cusip: | 78016HTR1
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