Published on 4/21/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $695,000 digital plus barrier notes linked to S&P, Russell
By Kiku Steinfeld
Chicago, April 21 – Royal Bank of Canada priced $695,000 of 0% digital plus barrier notes due Dec. 27, 2027 tied to the performance of 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 equal to or greater than its 75% barrier level and its return exceeds the 45% digital return, the payout at maturity will be the gain of the lesser performing index.
If the final level of the lesser performing index is equal to or greater than its 75% barrier level but less than or equal to the digital return, the payout will be par plus 45%.
Otherwise, investors will be fully exposed to the decline of the laggard index from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Digital plus barrier notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $695,000
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| Maturity: | Dec. 27, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus the gain of the lesser performing index if its final level is equal to or greater than its barrier level and its return exceeds the digital return; par plus digital return if final level of the lesser performing index is equal to or greater than its barrier level but its return is less than or equal to the digital return, otherwise, full exposure to decline of laggard index from initial level
|
| Initial levels: | 3,878.44 for S&P, 1,776.941 for Russell
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| Barrier levels: | 2,908.83 for S&P, 1,332.706 for Russell; 75% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
|
| Agent: | RBC Capital Markets, LLC
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| Fees: | 0%
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| Cusip: | 78016HG46
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