Published on 10/3/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $520,000 barrier booster notes linked to S&P, Euro Stoxx
Chicago, Oct. 3 – Royal Bank of Canada priced $520,000 of 0% barrier booster notes due Sept. 30, 2027 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lesser performing index is greater than or equal to its initial level, the payout at maturity will be the greater of par plus 59% or par plus the lesser performing index return.
If the final level of the lesser performing index is less than its initial level but not less than its barrier level, 60% of its initial level, the payout will be par.
If the final level of the lesser performing index is less than its barrier level, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Barrier booster notes
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| Underlying indexes: | S&P 500 index and Euro Stoxx 50
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| Amount: | $520,000
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| Maturity: | Sept. 30, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of lesser performing index is greater than or equal to initial level, greater of par plus return of that index return or par plus 59%; if final level of lesser performing index is less than initial level but not less than barrier level, par; if final level of lesser performing index is less than barrier level, 1% loss for every 1% that lesser performing index declines from initial level
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| Initial levels: | 3,647.29 for S&P and 3,328.65 for Euro Stoxx
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| Barrier levels: | 2,188.37 for S&P and 1,997.19 for Euro Stoxx, or 60% of initial levels
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| Pricing date: | Sept. 27, 2022
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| Settlement date: | Sept. 30, 2022
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 3.25%
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| Cusip: | 78016FU28
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