Published on 10/4/2023 in the Prospect News Structured Products Daily.
New Issue: RBC sells $50,000 autocallable contingent coupon barrier notes on three indexes
Chicago, Oct. 4 – Royal Bank of Canada priced $50,000 of autocallable contingent coupon barrier notes due Oct. 2, 2025 linked to the lesser performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 9.5% per year if the worst performing index closes at or above its trigger level, 60% of its initial level, on the relevant observation date.
The notes will be called at par plus coupon if the worst performing index closes at or above its initial level on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the worst performing index finishes below its 60% trigger level, in which case 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
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Euro Stoxx 50 index
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| Amount: | $50,000
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| Maturity: | Oct. 2, 2025
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| Coupon: | 9.5% annual rate, payable quarterly if worst performing index closes at or above trigger level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If all indexes finish at or above the trigger level, par plus the final coupon; otherwise, investors will be fully exposed to the worst performing index from its initial level
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| Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date after six months
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| Initial levels: | 3,719.04 for S&P, 1,715.243 for Russell, 3,335.30 for Stoxx
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| Trigger levels: | 2,231.42 for S&P, 1,029.146 for Russell, 2,001.18 for Stoxx; 60% of initial levels
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| Pricing date: | Sept. 28, 2022
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| Settlement date: | Sept. 30, 2022
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 2.25%
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| Cusip: | 78016FVS0
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