New Issue: RBC sells $865,000 8.15% fixed-coupon barrier notes tied to S&P 500 index

By Kiku Steinfeld

Chicago, March 13 – Royal Bank of Canada priced $865,000 of 8.15% fixed-coupon barrier notes due Dec. 1, 2023 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

At maturity investors will receive par unless the index finishes below its 75% barrier level, in which case investors will be fully exposed to the decline in the index level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Fixed-coupon barrier notes
Underlying index:	S&P 500 index
Amount:	$865,000
Maturity:	Dec. 1, 2023
Coupon:	8.15% per year, payable monthly
Price:	Par
Payout at maturity:	Par unless index finishes below barrier level, in which case full exposure to loss of index
Initial level:	3,963.94
Barrier level:	2,972.96, 75% of initial level
Pricing date:	Nov. 23, 2022
Settlement date:	Nov. 28, 2022
Agent:	RBC Capital Markets, LLC
Fees:	1.25%
Cusip:	78016HBM1

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