New Issue: RBC prices $2.35 million autocallable barrier enhanced return notes on tech stock basket

By William Gullotti

Buffalo, N.Y., Aug. 14 – Royal Bank of Canada priced $2.35 million of 0% autocallable barrier enhanced return notes due July 30, 2026 linked to an equally weighted basket of stocks consisting of Alphabet Inc., Microsoft Corp. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called automatically at par plus a 14% call premium if the basket closes at or above its initial level on July 29, 2024.

If the notes are not called and the basket return is positive, the payout at maturity will be par plus 150% of the return.

Investors will receive par if the basket declines by 30% or less and will be fully exposed to loss if the basket declines by more than 30%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Autocallable barrier enhanced return notes
Underlying stocks:	Alphabet Inc., Microsoft Corp., Nvidia Corp.; equal weights
Amount:	$2,352,000
Maturity:	July 30, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If basket return is positive, par plus 150% of basket return; par if basket declines by 30% or less; otherwise, 1% loss for every 1% of basket decline from initial level
Call:	Automatically at par plus 14% call premium if the basket closes at or above initial level on July 29, 2024
Initial levels:	$129.27 for Alphabet, $337.77 for Microsoft, $454.52 for Nvidia
Barrier level:	70% of initial level
Pricing date:	July 26
Settlement date:	July 31
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016NLF2

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