Published on 6/15/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.84 million notes linked to S&P 500
Chicago, June 15 – Royal Bank of Canada priced $1.84 million of 0% notes due July 3, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return, capped at par plus 6.85%.
If the index return is zero or negative, the payout will be par.
RBC Capital Markets LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,836,000
|
| Maturity: | July 3, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, capped at par plus 6.85%; otherwise, par
|
| Initial level: | 4,179.83
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | RBC Capital Markets, LLC
|
| Fees: | 0.25%
|
| Cusip: | 78016NAR8
|
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