Published on 10/4/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $290,000 8.5% fixed-coupon barrier notes linked to S&P 500
Chicago, Oct. 4 – Royal Bank of Canada priced $290,000 of 8.5% fixed-coupon barrier notes due Oct. 3, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the index finishes below its barrier level, 75% of its initial level, in which case investors will lose 1% for every 1% that the index declines from its initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Fixed-coupon barrier notes
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Underlying indexes: | S&P 500 index
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Amount: | $290,000
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Maturity: | Oct. 3, 2023
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Coupon: | 8.5% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par unless index finishes below barrier level, in which case 1% loss for every 1% that index declines from initial level
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Initial level: | 3,719.04
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Barrier level: | 2,789.28, or 75% of initial level
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Pricing date: | Sept. 28, 2022
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Settlement date: | Sept. 30, 2022
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Agent: | RBC Capital Markets, LLC
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Fees: | 1.25%
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Cusip: | 78016FVN1
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