New Issue: RBC prices $1.73 million autocallable buffered enhanced return notes linked to S&P 500

By William Gullotti

Buffalo, N.Y., Dec. 22 – Royal Bank of Canada priced $1.73 million of 0% autocallable buffered enhanced return notes due Dec. 19, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called automatically at par plus a 9.62% call premium if the index closes at or above its initial level on Dec. 18, 2023.

If the notes are not called and the index return is positive, the payout at maturity will be par plus 125% of the return.

Investors will receive par if the index declines by 30% or less and will lose 1% for every 1% that the index declines beyond 30%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Autocallable buffered enhanced return notes
Underlying index:	S&P 500 index
Amount:	$1,731,000
Maturity:	Dec. 19, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 125% of index return; par if index declines by 30% or less; 1% loss for every 1% of index decline beyond 30%
Call:	Automatically at par plus 9.62% call premium if the index closes at or above initial level on Dec. 18, 2023
Initial level:	3,852.36
Buffer level:	2,696.65; 70% of initial level
Pricing date:	Dec. 16
Settlement date:	Dec. 21
Agent:	RBC Capital Markets, LLC
Fees:	0.25%
Cusip:	78016HGL8

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