Published on 3/19/2023 in the Prospect News Structured Products Daily.
New Issue: RBC prices $2.95 million notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., March 20 – Royal Bank of Canada priced $2.95 million of 0% notes due April 2, 2024 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 return of the index, subject to a minimum return of par and a maximum return of par plus 7%.
RBC Capital Markets LLC is the underwriter.
Issuer: | Royal Bank of Canada
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Issue: | Notes
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Underlying index: | S&P 500 index
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Amount: | $2,945,000
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Maturity: | April 2, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at par plus 7%; otherwise, par
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Initial level: | 3,982.24
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Pricing date: | Feb. 27
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Settlement date: | March 2
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Agent: | RBC Capital Markets, LLC
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Fees: | 0.25%
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Cusip: | 78016HR28
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