New Issue: RBC prices $421,000 barrier enhanced return notes linked to S&P 500

By Kiku Steinfeld

Chicago, Nov. 9 – Royal Bank of Canada priced $421,000 of 0% barrier enhanced return notes due April 11, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus 139% of the index return.

If the final index level is less than or equal to the initial index level but not by more than 20%, the payout will be par.

If the final index level is less than the initial index level by more than 20%, investors will lose 1% for every 1% that the index declines from its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier enhanced return notes
Underlying index:	S&P 500 index
Amount:	$421,000
Maturity:	April 11, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than initial index level, par plus 139% of index return; if final index level is less than or equal to initial index level but not by more than 20%, par; if final index level is less than initial index level by more than 20%, 1% loss for every 1% that index declines from initial level
Initial level:	4,105.02
Barrier level:	3,284.02, or 80% of initial level
Pricing date:	April 6, 2023
Settlement date:	April 11, 2023
Agent:	RBC Capital Markets, LLC
Fees:	0.75%
Cusip:	78016HX62

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