New Issue: RBC prices $1.47 million buffered absolute return notes linked to Euro Stoxx 50

By Angela McDaniels

Tacoma, Wash., March 13 – Royal Bank of Canada priced $1.47 million of 0% buffered absolute return notes due June 30, 2028 linked to the Euro Stoxx 50 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 138% of the index return.

If the final index level is less than or equal to the initial index level but greater than or equal to the buffer level, 70% of the initial index level, the payout will be par plus the absolute value of the index return.

If the final index level is less than the buffer level, investors will lose 1% for every 1% that the index declines beyond 30%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered absolute return notes
Underlying index:	Euro Stoxx 50 index
Amount:	$1.47 million
Maturity:	June 30, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than initial index level, par plus 138% of index return; if final index level is less than or equal to initial index level but greater than or equal to buffer level, par plus absolute value of index return; otherwise, 1% loss for every 1% that index declines beyond 30%
Initial level:	4,305.26
Buffer level:	3,013.68, or 70% of initial level
Pricing date:	June 27, 2023
Settlement date:	June 30, 2023
Agent:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78016NEP8

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