New Issue: RBC prices $500,000 callable contingent coupon barrier notes on Disney

By Kiku Steinfeld

Chicago, Sept. 15 – Royal Bank of Canada priced $500,000 of issuer callable contingent coupon barrier notes due March 2, 2026 linked to Walt Disney Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.75% if the stock closes at or above its 55% coupon barrier on the observation date for that quarter.

The notes will be callable at par on any quarterly coupon payment date after six months.

The payout at maturity will be par unless the stock finishes below the 55% trigger price, in which case investors will be exposed to the decline of the stock.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Issuer callable contingent coupon barrier notes
Underlying stock:	Walt Disney Co.
Amount:	$500,000
Maturity:	March 2, 2026
Coupon:	9.75%, payable quarterly if stock closes at or above coupon barrier on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless stock finishes below trigger level, in which case investors will be exposed to the decline of the stock
Call:	At par on any quarterly coupon payment date after six months
Initial level:	$98.92
Coupon barrier/trigger price:	$54.41, 55% of initial level
Pricing date:	March 3, 2023
Settlement date:	March 8, 2023
Agents:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016HUR9

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