New Issue: RBC prices $510,000 buffered absolute return notes linked to Euro Stoxx 50

By Kiku Steinfeld

Chicago, June 15 – Royal Bank of Canada priced $510,000 of 0% buffered absolute return notes due Jan. 31, 2028 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout will be par plus 1.22 times the return of the index.

If the index finishes flat or falls by up to 30%, the payout will be par plus the absolute value of the return.

Otherwise, investors will lose 1% for every 1% decline of the index beyond the buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered absolute return notes
Underlying index:	Euro Stoxx 50 index
Amount:	$510,000
Maturity:	Jan. 31, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes above its initial level, par plus 1.22 times the return of the index; if the index finishes flat or falls by up to buffer level, par plus the absolute value of the return of the index; otherwise, 1% loss for every 1% decline of the index beyond 30%
Initial level:	4,173.98
Buffer level:	2,921.79; 70% of initial level
Pricing date:	Jan. 26, 2023
Settlement date:	Jan. 31, 2023
Agent:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78016HL65

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