New Issue: RBC prices $711,000 notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., March 21 – Royal Bank of Canada priced $711,000 of 0% notes due July 3, 2025 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 return of 17% if the index return is positive and a minimum payout of par if the index return is negative.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Notes
Underlying index:	S&P 500 index
Amount:	$711,000
Maturity:	July 3, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus index return, subject to maximum return of 17% if index return is positive and minimum payout of par if index return is negative
Initial level:	4,450.38
Pricing date:	June 30, 2023
Settlement date:	July 6, 2023
Agent:	RBC Capital Markets, LLC
Fees:	0.25%
Cusip:	78016NGB7

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