New Issue: RBC prices $3.01 million notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., March 6 – Royal Bank of Canada priced $3.01 million of 0% notes due June 30, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, subject to a maximum return of 53%. If the final index level is less than or equal to the initial index level, the payout will be par.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Notes
Underlying index:	S&P 500 index
Amount:	$3,014,000
Maturity:	June 30, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than initial index level, par plus index return, subject to maximum return of 53%; if final index level is less than or equal to initial index level, par
Initial level:	4,378.41
Pricing date:	June 27, 2023
Settlement date:	June 30, 2023
Agent:	RBC Capital Markets, LLC
Fees:	3.125%
Cusip:	78016NFE2

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