Published on 12/5/2022 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.62 million digital notes with barrier linked to S&P 500
By William Gullotti
Buffalo, N.Y., Dec. 5 – Royal Bank of Canada priced $1.62 million of 0% digital notes with barrier due May 23, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above barrier level, 80% of initial level, the payout at maturity will be par plus 20%.
Otherwise, investors will be fully exposed to the decline of the index from its initial level.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Digital notes with barrier
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Underlying index: | S&P 500 index
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Amount: | $1,623,000
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Maturity: | May 23, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above barrier level, par plus 20%; otherwise, full exposure to decline
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Initial level: | 3,965.34
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Barrier level: | 3,172.27; 80% of initial level
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Pricing date: | Nov. 18
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Settlement date: | Nov. 23
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Agent: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78016H3H1
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