By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – Royal Bank of Canada priced $2.03 million of 0% digital notes with barrier due March 28, 2025 tied to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus 12.4%.
If the index declines but finishes at or above barrier level, 75% of initial level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to the decline of the index from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Digital notes with barrier
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| Underlying index: | Russell 2000 index
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| Amount: | $2.03 million
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| Maturity: | March 28, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index finishes at or above initial level, par plus 12.4%; if index declines by no more than 25%, par plus absolute value of index return; otherwise, full exposure to decline from initial level
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| Initial level: | 1,784.24
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| Barrier level: | 1,338.18; 75% of initial level
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 1.875%
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| Cusip: | 78016NG27
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