New Issue: RBC prices $50,000 contingent digital return buffer notes linked to Caterpillar

By Kiku Steinfeld

Chicago, June 8 – Royal Bank of Canada priced $50,000 of 0% contingent digital return buffer notes due June 14, 2021 linked to the common stock of Caterpillar Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the stock return is greater than or equal to negative 15%, the payout at maturity will be par of $10,000 plus 7.25%.

Otherwise, investors will receive 96.10 Caterpillar shares (the number of shares equal to the principal amount divided by the 85% buffer level) or, at the issuer’s option, the cash equivalent.

RBC Capital Markets, LLC is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.

Issuer:	Royal Bank of Canada
Issue:	Contingent digital return buffer notes
Underlying stocks:	Caterpillar Inc.
Amount:	$50,000
Maturity:	June 14, 2021
Coupon:	0%
Price:	Par of $10,000
Payout at maturity:	If stock return is greater than or equal to negative 15%, par plus 7.25%; otherwise, 96.10 Caterpillar shares or cash equivalent
Initial share price:	$122.42
Buffer level:	$104.06, 85% of initial level
Final share price:	Average of closing share prices on five trading days ending June 9, 2021
Pricing date:	May 28
Settlement date:	June 2
Underwriter:	RBC Capital Markets, LLC
Placement agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	78013GVZ5

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