New Issue: RBC sells $910,000 fixed-coupon barrier notes tied to Devon Energy

Chicago, Dec. 7 – Royal Bank of Canada priced $910,000 of 12.5% fixed-coupon barrier notes due Nov. 1, 2023 tied to the common stock of Devon Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the stock finishes below its 50% barrier price, in which case investors will lose 1% for every 1% decline from the stock’s initial price.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Fixed-coupon barrier notes
Underlying stock:	Devon Energy Corp.
Amount:	$910,000
Maturity:	Nov. 1, 2023
Coupon:	12.5% per year, payable monthly
Price:	Par
Payout at maturity:	Par unless stock finishes below barrier level, in which case investors will lose 1% for every 1% decline from the stock’s initial price
Initial price:	$76.56
Barrier level:	$38.28; 50% of initial level
Pricing date:	Oct. 27, 2022
Settlement date:	Oct. 31, 2022
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016H2P4

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