New Issue: RBC sells $1.5 million contingent coupon barrier autocalls on Russell, ETFs

By Wendy Van Sickle

Columbus, Ohio, Aug. 16 – Royal Bank of Canada priced $1.5 million of autocallable contingent coupon barrier notes due Aug. 13, 2026 linked to the performance of the Utilities Select Sector SPDR fund, the Russell 2000 index and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent monthly coupon at the rate of 10.7% per year if the worst performing asset closes at or above its coupon barrier level, 70% of its initial level, on the relevant observation date.

The notes will be called at par plus the coupon if the worst performing asset closes at or above its initial level on any quarterly observation date after six months.

If the notes are not called, the payout at maturity will be par unless the worst performing asset finishes below its 60% trigger level, in which case investors will be fully exposed to the decline of the worst performing asset from its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Autocallable contingent coupon barrier notes
Underlying assets:	Russell 2000 index, iShares Russell 2000 Value ETF, Utilities Select Sector SPDR fund
Amount:	$1.5 million
Maturity:	Aug. 13, 2026
Coupon:	10.7%, payable monthly if worst performing asset closes at or above coupon barrier level on the relevant observation date
Price:	Par
Payout at maturity:	If all assets finish at or above the trigger levels, par; otherwise, investors will be fully exposed to the decline of the worst performing asset from its initial level
Call:	At par plus coupon if each asset closes at or above initial level on any quarterly observation date after six months
Initial levels:	1,922.621 for Russell, $147.02 for iShares Russell, $64.22 for utilities fund
Coupon barrier levels:	1,345.835 for Russell, $102.91 for iShares Russell, $44.95 for utilities fund; 70% of initial levels
Trigger levels:	1,153.573 for Russell, $88.21 for iShares Russell, $38.53 for utilities fund; 60% of initial levels
Pricing date:	Aug. 10
Settlement date:	Aug. 15
Agent:	RBC Capital Markets, LLC
Fees:	0.7%
Cusip:	78016NUD7

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