Published on 8/15/2023 in the Prospect News Structured Products Daily.
New Issue: RBC sells $101,000 barrier digital return notes on S&P, Russell
Chicago, Aug. 15 – Royal Bank of Canada priced $101,000 of 0% barrier digital return notes due Aug. 29, 2024 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying index finishes at or above its 70% barrier level, the payout at maturity will be par plus the digital return of 7%.
Otherwise, investors will be fully exposed to the decline of the worst performing index.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Barrier digital return notes
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $101,000
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Maturity: | Aug. 29, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each underlying index finishes at or above its barrier level, par plus 7%; otherwise, full exposure to any losses of worst performing index
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Initial levels: | 4,566.75 for S&P, 1,980.355 for Russell
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Barrier levels: | 3,196.73 for S&P, 1,386.249 for Russell, 70% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | RBC Capital Markets, LLC
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Fees: | 1.875%
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Cusip: | 78016NLV7
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