New Issue: RBC prices $2 million return enhanced notes linked to S&P 500

By William Gullotti

Buffalo, N.Y., March 14 – Royal Bank of Canada priced $2 million of 0% return enhanced notes due March 11, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 1.191 times the return.

Investors will be fully exposed to any index decline.

RBC Capital Markets, LLC is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

Issuer:	Royal Bank of Canada
Issue:	Return enhanced notes
Underlying index:	S&P 500 index
Amount:	$2 million
Maturity:	March 11, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 1.191 times index return; otherwise, full exposure to any index decline
Initial level:	4,170.7
Strike date:	March 8
Pricing date:	March 9
Settlement date:	March 14
Agent:	RBC Capital Markets, LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
Fees:	3%
Cusip:	78016FG32

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