Published on 3/27/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $453,000 barrier enhanced return notes linked to S&P, Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., March 27 – Royal Bank of Canada priced $453,000 of 0% barrier enhanced return notes due July 6, 2026 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing index’s final level is greater than its initial level, the payout at maturity will be par plus 150% of that index’s return.
If the least performing index’s final level is less than or equal to its initial level but greater than or equal to its barrier level, 70% of its initial level, the payout will be par.
If the least performing index’s final level is less than its barrier level, investors will lose 1% for every 1% that the least performing index’s final level is less than its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Barrier enhanced return notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
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| Amount: | $453,000
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| Maturity: | July 6, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If least performing index’s final level is greater than initial level, par plus 150% of that index’s return; if least performing index’s final level is less than or equal to initial level but greater than or equal to barrier level, par; otherwise, 1% loss for every 1% that least performing index’s final level is less than initial level
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| Initial levels: | 4,450.38 for S&P, 15,179.21 for Nasdaq and 1,888.734 for Russell
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| Barrier levels: | 3,115.27 for S&P, 10,625.45 for Nasdaq and 1,322.11 for Russell, or 70% of initial levels
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 0.113%
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| Cusip: | 78016NFL6
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