New Issue: RBC sells $16.44 million accelerated return notes on Energy Select Sector SPDR Fund

By William Gullotti

Buffalo, N.Y., Oct. 4 – Royal Bank of Canada priced $16.44 million of 0% Accelerated Return Notes due Nov. 24, 2023 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any ETF gain, capped at par plus 43.91%. Investors will be exposed to any ETF decline.

BofA Securities, Inc. is the agent.

Issuer:	Royal Bank of Canada
Issue:	Accelerated Return Notes
Underlying ETF:	Energy Select Sector SPDR Fund
Amount:	$16,435,830
Maturity:	Nov. 24, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any ETF gain, capped at par plus 43.91%; exposure to any ETF decline
Initial value:	$72.60
Final value:	Average of ETF’s closing prices on five trading days ending Nov. 20, 2023
Pricing date:	Sept. 29
Settlement date:	Oct. 6
Underwriter:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	78015B377

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