New Issue: RBC prices $594,000 8.75% fixed-coupon barrier notes linked to S&P 500

Chicago, Dec. 7 – Royal Bank of Canada priced $594,000 of 8.75% fixed-coupon barrier notes due Nov. 1, 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
Issue:	Fixed-coupon barrier notes
Underlying index:	S&P 500 index
Amount:	$594,000
Maturity:	Nov. 1, 2023
Coupon:	8.75% per year, payable monthly
Price:	Par
Payout at maturity:	Par unless index finishes below barrier level, in which case 1% loss for every 1% that index declines from initial level
Initial level:	3,807.30
Barrier level:	2,855.48, 80% of initial level
Pricing date:	Oct. 27, 2022
Settlement date:	Oct. 31, 2022
Agent:	RBC Capital Markets, LLC
Fees:	1.25%
Cusip:	78016H2T6

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