Published on 4/26/2023 in the Prospect News Structured Products Daily.
New Issue: RBC sells $2.11 million contingent coupon barrier notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 26 – Royal Bank of Canada priced $1.2 million of contingent coupon barrier notes due April 6, 2026 linked to the performance of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 8.25% per year if the worst performing index closes at or above its coupon barrier level, 60% of its initial level, on the relevant observation date.
If each index finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Contingent coupon barrier notes
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $2,107,000
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| Maturity: | April 6, 2026
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| Coupon: | 8.25%, payable quarterly if worst performing index closes at or above coupon barrier level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | If all indexes finish at or above coupon barrier level, par plus final coupon; otherwise, full exposure to the worst performer from initial level
|
| Initial levels: | 1,802.484 for Russell, 33,274.15 for Dow, 13,181.35 for Nasdaq
|
| Coupon barrier levels: | 1,081.49 for Russell, 19,964.49 for Dow, 7,908.81 for Nasdaq; 60% of initial levels
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| Trigger levels: | 1,081.49 for Russell, 19,964.49 for Dow, 7,908.81 for Nasdaq; 60% of initial levels
|
| Pricing date: | March 31
|
| Settlement date: | April 5
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 0%
|
| Cusip: | 78016HW97
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