New Issue: RBC prices $500,000 notes linked to S&P 500 index

By Angela McDaniels

Tacoma, Wash., Nov. 21 – Royal Bank of Canada priced $500,000 of 0% notes due Nov. 5, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the index return, subject to a maximum payout of $1,225 and a minimum payout of $950 per $1,000 principal amount of notes.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Notes
Underlying index:	S&P 500 index
Amount:	$500,000
Maturity:	Nov. 5, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus index return, subject to maximum payout of $1,225 and minimum payout of $950 per $1,000 principal amount of notes
Initial level:	3,871.98
Pricing date:	Oct. 31, 2022
Settlement date:	Nov. 3, 2022
Agent:	RBC Capital Markets, LLC
Fees:	0.25%
Cusip:	78016FXU3

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