Royal Bank of Canada
Market Linked Securities
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Filed Pursuant to Rule 433
Registration Statement No. 333-259205
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Market Linked Securities—Leveraged Upside Participation to a Cap and Fixed Percentage
Buffered Downside
Principal at Risk Securities Linked to the S&P 500® Index due July 6, 2026
Term Sheet to Preliminary Pricing Supplement No. WFC215 dated May 30, 2023
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Issuer :
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Royal Bank of Canada
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Market Measure:
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S&P 500® Index (the “Index”)
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Pricing Date*:
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June 29, 2023
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Issue Date*:
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July 5, 2023
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Face Amount and
Original Offering
Price:
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$1,000 per security
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Maturity
Payment Amount
(per security):
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• if the ending level is greater than the starting
level:
$1,000 plus the lesser of: (i) $1,000 × index return × upside participation rate; and (ii) the maximum return;
• if the ending level is less than or equal
to the starting level, but greater than or equal to the threshold level:
$1,000; or
• if the ending level is less than the
threshold level:
$1,000 + [$1,000 × (index return + buffer amount)]
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Stated Maturity
Date*:
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July 6, 2026
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Starting Level:
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The closing level of the Index on the pricing date
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Ending Level:
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The closing level of the Index on the calculation day
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Maximum
Return:
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At least 28% of the face amount per security, to be determined on the pricing date
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Threshold Level:
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80% of the starting level
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Buffer Amount:
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20%
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Upside
Participation
Rate:
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200%
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Index Return:
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(ending level – starting level) / starting level
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Calculation Day*:
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June 29, 2026
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Calculation
Agent:
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RBC Capital Markets, LLC (“RBCCM”), an affiliate of the issuer
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Denominations:
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$1,000 and any integral multiple of $1,000
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Agent
Discount**:
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Up to 3.075%; dealers, including those using the trade name Wells Fargo Advisors (“WFA”), may receive a selling concession of up to 2.25% and WFA may receive a distribution expense fee of 0.075%
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CUSIP:
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78016NDV6
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Material Tax
Consequences:
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See the preliminary pricing supplement.
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If The Ending Level Is Less Than The Threshold Level, You Will Lose Some, And Possibly Up To 80%, Of The Face Amount Of Your Securities At Maturity.
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No Periodic Interest Will Be Paid On The Securities.
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Your Return Will Be Limited To The Maximum Return And May Be Lower Than The Return On A Direct Investment In The Index.
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The Securities Are Subject To Credit Risk.
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Significant Aspects Of The Tax Treatment Of The Securities Are Uncertain.
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Our Initial Estimated Value Of The Securities Will Be Less Than The Original Offering Price.
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The Initial Estimated Value Of The Securities Is An Estimate Only, Calculated As Of The Time The Terms Of The Securities Are Set.
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The Value Of The Securities Prior To Stated Maturity Will Be Affected By Numerous Factors, Some Of Which Are Related In Complex Ways.
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The Securities Will Not Be Listed On Any Securities Exchange And We Do Not Expect A Trading Market For The Securities To Develop.
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The Maturity Payment Amount Will Depend Upon The Performance Of The Index And Therefore The Securities Are Subject To A Variety of Risks, As Discussed In More Detail In The Accompanying Product Supplement.
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The Stated Maturity Date May Be Postponed If The Calculation Day Is Postponed.
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Our Economic Interests And Those Of Any Dealer Participating In The Offering Are Potentially Adverse To Your Interests.
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