New Issue: RBC prices $795,000 barrier digital return notes linked to S&P, Russell

By Angela McDaniels

Tacoma, Wash., March 27 – Royal Bank of Canada priced $795,000 of 0% barrier digital return notes due Aug. 2, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final level of the lesser performing index is greater than or equal to its barrier level, 70% of its initial level, the payout at maturity will be par plus 9.75%. Otherwise, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier digital return notes
Underlying indexes:	S&P 500 index and Russell 2000 index
Amount:	$795,000
Maturity:	Aug. 2, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If final level of lesser performing index is greater than or equal to barrier level, par plus 9.75%; otherwise, 1% loss for every 1% that lesser performing index declines from initial level
Initial levels:	4,450.38 for S&P and 1,888.734 for Russell
Barrier levels:	3,115.27 for S&P and 1,322.114 for Russell, or 70% of initial levels
Pricing date:	June 30, 2023
Settlement date:	July 6, 2023
Agent:	RBC Capital Markets, LLC
Fees:	0.244%
Cusip:	78016NFB8

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