New Issue: RBC prices $520,000 5.85% autocallable buffered notes on index, fund

By Kiku Steinfeld

Chicago, April 24 - Royal Bank of Canada priced $520,000 of 5.85% autocallable coupon buffered notes due July 17, 2026 linked to the Russell 2000 index and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes will be automatically called at par if each asset closes above its initial level on any quarterly observation date after one year.

The payout at maturity will be par unless the final level of either asset is less than its initial level by more than 15%, in which case investors will lose 1% for every 1% decline of the lesser performer beyond its 15%buffer.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Autocallable coupon buffered notes
Underlying assets:	Russell 2000 index and Technology Select Sector SPDR fund
Amount:	$520,000
Maturity:	July 17, 2026
Coupon:	5.85% per year, payable monthly
Price:	Par
Payout at maturity:	Par unless worse performing asset falls by more than buffer, in which case 1% loss for every 1% drop beyond of lesser performer beyond its buffer
Call:	Automatically at par if each asset closes above its initial level on any quarterly observation date after one year
Initial levels:	1,043.46 for index, $62.97 for ETF
Buffer levels:	85% of initial levels
Pricing date:	July 14, 2023
Settlement date:	July 19, 2023
Underwriter:	RBC Capital Markets, LLC
Fees:	2.75%
Cusip:	78016NNF0

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