New Issue: RBC prices $916,000 buffered enhanced return notes on stock basket

By Kiku Steinfeld

Chicago, Aug. 28 – Royal Bank of Canada priced $916,000 of 0% buffered enhanced return notes due Feb. 27, 2025 linked to an equally weighted basket of five stocks, according to a 424B5 filing with the Securities and Exchange Commission.

The basket includes Caesars Entertainment, Inc., Carnival Corp., Netflix, Inc., TripAdvisor, Inc. and United Airlines Holdings, Inc., equally weighted.

The payout at maturity will be par plus 200% of any basket gain, subject to a maximum return of 35%. Investors will receive par if the basket declines by 20% or less and will lose 1% for every 1% that the basket declines beyond 20%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying basket:	Caesars Entertainment, Inc., Carnival Corp., Netflix, Inc., TripAdvisor, Inc. and United Airlines Holdings, Inc., equally weighted
Amount:	$916,000
Maturity:	Feb. 27, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any basket gain, up to maximum return of 35%, par if basket falls by 20% or less; 1% loss for every 1% basket decline beyond 20%
Initial levels:	$50.03 for Ceasar, $10.59 for Carnival, $317.15 for Netflix, $21.59 for Trip Advisor, $50.21 for United
Buffer:	20%
Pricing date:	Feb. 24, 2023
Settlement date:	Feb. 28, 2023
Underwriter:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016HSE1

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