New Issue: RBC sells $84.00 million Accelerated Return Notes tied to S&P 500

By Marisa Wong

Los Angeles, Dec. 29 – Royal Bank of Canada priced $83,999,530 of 0% Accelerated Return Notes due Feb. 24, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, capped at par plus 13.07%. Investors will be exposed to any index decline.

BofA Securities, Inc. is the agent.

Issuer:	Royal Bank of Canada
Issue:	Accelerated Return Notes
Underlying index:	S&P 500 index
Amount:	$83,999,530
Maturity:	Feb. 24, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, capped at par plus 13.07%; exposure to any index decline
Initial index level:	4,696.56
Final index level:	Average of index’s closing levels on five trading days ending Feb. 21, 2023
Pricing date:	Dec. 22
Settlement date:	Jan. 3
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	78015B500

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