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Published on 7/6/2023 in the Prospect News Structured Products Daily.

New Issue: RBC prices $1.56 million leveraged capped market-linked buffered securities tied to Stoxx

By William Gullotti

Buffalo, N.Y., July 6 – Royal Bank of Canada priced $1.56 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 6, 2026 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, payout at maturity will be par plus double any index gain, subject to a maximum return of 35%.

Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.

Wells Fargo Securities, LLC is the agent.

Issuer:Royal Bank of Canada
Issue:Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying index:Euro Stoxx 50 index
Amount:$1.56 million
Maturity:Jan. 6, 2026
Coupon:0%
Price:Par
Payout at maturity:If index return is positive, par plus two times any index gain, subject to a maximum return of par plus 35%; if the index falls by up to 15%, par; 1% for each 1% decline in index beyond 15%
Initial level:4,354.69
Buffer level:3,701.4865; 85% of initial level
Pricing date:June 29
Settlement date:July 5
Agent:Wells Fargo Securities, LLC
Fees:2.575%
Cusip:78016NDS3

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