New Issue: RBC sells $630,000 digital barrier notes linked to Energy Select

By Kiku Steinfeld

Chicago, March 14 – Royal Bank of Canada priced $630,000 of 0% digital notes with barrier due Aug. 1, 2024 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the price of the ETF finishes at or above its 70% barrier, the payout at maturity will be par plus the digital return of 10.1%.

Otherwise, investors will be fully exposed to any losses.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital notes with barrier
Underlying ETF:	Energy Select Sector SPDR fund
Amount:	$630,000
Maturity:	Aug. 1, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF gains or falls by not more than 30%, par plus 10.1%; otherwise, full exposure to any losses
Initial price:	$80.65
Barrier price:	$56.46, 70% of initial level
Pricing date:	June 29, 2023
Settlement date:	July 5, 2023
Agent:	RBC Capital Markets, LLC
Fees:	1.375%
Cusip:	78016NKB2

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