New Issue: RBC prices $500,000 buffered bullish enhanced return notes on S&P

By Tali Rackner

Norfolk, Va., Nov. 18 – Royal Bank of Canada priced $500,000 of 0% buffered bullish enhanced return notes due Dec. 19, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 145% of any index gain, up to a maximum return of 42.05%.

Investors will receive par if the index falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish enhanced return notes
Underlying index:	S&P 500
Amount:	$500,000
Maturity:	Dec. 19, 2018
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the index return is positive, par plus 145% of gain, subject to maximum return of 42.05%; if index falls by up to 15%, par; if index falls by more than 15%, 1.1765% loss for every 1% decline beyond the buffer
Initial level:	2,099.20
Buffer level:	1,784.32, 85% of initial level
Pricing date:	Nov. 6
Settlement date:	Nov. 12
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78012KJK4

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