Published on 6/28/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $1.32 million digital notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 28 – Royal Bank of Canada priced $1.32 million of 0% digital notes due Dec. 29, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus 35.75%.
Otherwise, investors will receive par.
RBC Capital Markets, LLC is the agent.
Issuer: | Royal Bank of Canada
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Issue: | Digital notes
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Underlying index: | S&P 500 index
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Amount: | $1,319,000
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Maturity: | Dec. 29, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above initial level, par plus 35.75%; otherwise, par
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Initial index level: | 4,348.33
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | RBC Capital Markets, LLC
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Fees: | None
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Cusip: | 78016NFX0
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