New Issue: RBC sells $4.49 million issuer callable contingent coupon barrier notes tied to S&P

By Taylor Fox

New York, Nov. 11 – Royal Bank of Canada priced $4.49 million issuer callable contingent coupon barrier notes due April 17, 2026 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of 5% if the index closes above its 60% coupon barrier on any observation date for that quarter.

After six months, the notes may be called at par plus any coupon due at the option of the issuer on any quarterly coupon payment date.

Investors will receive par plus the contingent coupon if the final level of the index is above its 60% trigger level.

Otherwise, investors will be fully exposed to the losses of the index.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Issuer callable contingent coupon barrier note
Underlying index:	S&P 500 index
Amount :	$4,493,000
Maturity:	April 17, 2026
Coupon:	5% per year, paid quarterly if index closes above coupon barrier related observation date for that quarter
Price:	Par
Payout at maturity:	Par plus contingent coupon unless index closes below trigger level, in which case full exposure to losses of index
Call option:	After six months, at par plus any coupon due at the option of the issuer on any quarterly coupon payment date
Initial levels:	3,488.67
Coupon barrier levels:	2,093.20, 60% of initial levels
Trigger levels:	2,093.20, 60% of initial levels
Pricing date:	Oct. 14
Settlement date:	Oct. 19
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016EET0

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