New Issue: RBC prices $816,000 notes linked to S&P, Dow Jones industrial average

By Angela McDaniels

Tacoma, Wash., May 8 – Royal Bank of Canada priced $816,000 of 0% notes due Feb. 5, 2025 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the lesser performing index’s return is positive, the payout at maturity will be par plus the lesser performing index’s return, subject to a maximum return of 13.5%.

If the lesser performing index’s return is zero or negative, the payout will be par.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Notes
Underlying indexes:	S&P 500 index and Dow Jones industrial average
Amount:	$816,000
Maturity:	Feb. 5, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If lesser performing index’s return is positive, par plus lesser performing index’s return, subject to maximum return of 13.5%; if lesser performing index’s return is zero or negative, par
Initial levels:	4,588.96 for S&P and 35,559.53 for Dow
Pricing date:	July 31, 2023
Settlement date:	Aug. 3, 2023
Agent:	RBC Capital Markets, LLC
Fees:	0.233%
Cusip:	78016NLS4

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.