New Issue: RBC sells $660,000 barrier income notes on S&P, Russell

By Kiku Steinfeld

Chicago, Sept. 21 – Royal Bank of Canada priced $660,000 of 7.4% barrier income notes due Sept. 12, 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.

Interest is payable monthly.

If each underlying index finishes at or above its 60% barrier level, the payout at maturity will be par plus the final interest payment.

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
Issue:	Barrier income notes
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$660,000
Maturity:	Sept. 12, 2024
Coupon:	7.4% per year, payable monthly
Price:	Par
Payout at maturity:	If each underlying index finishes at or above its barrier level, par plus interest; otherwise, full exposure to any losses of worst performing index
Initial levels:	3,992.01for S&P, 1,879.478 for Russell
Barrier levels:	2,395.21for S&P, 1,127.687 for Russell, 60% of initial levels
Pricing date:	March 8, 2023
Settlement date:	March 13, 2023
Agent:	RBC Capital Markets, LLC
Fees:	0.45%
Cusip:	78016HTV2

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