New Issue: RBC prices $1.35 million leveraged buffered notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Feb. 9 – Royal Bank of Canada priced $1.35 million of 0% leveraged buffered index-linked notes due June 18, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum settlement amount of $1,252 per $1,000 principal amount of notes.

If the index return is zero or negative but not below negative 15%, the payout will be par.

If the return is below negative 15%, investors will lose 1.1765% for every 1% that the index declines beyond 15%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Leveraged buffered index-linked notes
Underlying index:	S&P 500 index
Amount:	$1,346,000
Maturity:	June 18, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 200% of index return, subject to maximum return of 25.5%; if index return is zero or negative but not below negative 15%, par; otherwise, 1.1765% loss for every 1% that index declines beyond 15%
Initial level:	4,378.41
Buffer level:	85% of initial level
Pricing date:	June 27, 2023
Settlement date:	July 5, 2023
Agent:	RBC Capital Markets, LLC
Fees:	0%
Cusip:	78016NKA4

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