New Issue: RBC prices $484,000 digital plus absolute return notes with barrier linked to S&P

By Kiku Steinfeld

Chicago, Feb. 13 – Royal Bank of Canada priced $484,000 of 0% digital plus absolute return notes with barrier due Nov. 16, 2027 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes flat or gains, the payout at maturity will be the greater of par plus the index return and par plus the 46.5% digital return.

If the index declines up to 20%, investors will receive par plus the absolute value of the index return. Otherwise, investors will be fully exposed to the decline of the index from its initial level.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Digital plus absolute return notes with barrier
Underlying index:	S&P 500 index
Amount:	$484,000
Maturity:	Nov. 16, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes flat or gains, the greater of par plus the index return and par plus the 46.5% digital return; if the index declines up to 20%, par plus the absolute value of the index return; otherwise, full exposure to decline
Initial level:	3,956.37
Barrier level:	3,165.10; 80% of initial level
Pricing date:	Nov. 10, 2022
Settlement date:	Nov. 16, 2022
Underwriter:	RBC Capital Markets, LLC
Fees:	3.20%
Cusip:	78016H6V7

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