New Issue: RBC prices $1.13 million digital plus barrier notes linked to S&P, Russell

By Kiku Steinfeld

Chicago, March 2 – Royal Bank of Canada priced $1.13 million of 0% digital plus barrier notes due Nov. 24, 2028 tied to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the least performing index finishes above its barrier level – 75% of its initial level – and its return is greater than 50.5%, the payout at maturity will be par plus the gain of the least performing index.

If the least performing index finishes above its barrier level but its return is not more than 50.5%, the payout at maturity will be par plus 50.5%.

Otherwise, investors will be fully exposed to the decline of the laggard index from its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital plus barrier notes
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$1,127,000
Maturity:	Nov. 24, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus gain of least performing index if it finishes above its barrier level and its return is greater than 50.5%; if least performing index finishes above its barrier level but its return is not more than 50.5%, par plus 50.5%; otherwise, full exposure to decline of laggard index from initial level
Initial levels:	3,965.34 for S&P, 1,849.732 for Russell
Barrier levels:	2,974.01 for S&P, 1,387.299 for Russell; 75% of initial levels
Pricing date:	Nov. 18, 2022
Settlement date:	Nov. 23, 2022
Agent:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78016H7F1

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