New Issue: RBC prices $10.38 million buffered digital notes tied to S&P

By Sarah Lizee

Olympia, Wash., Oct. 17 – Royal Bank of Canada priced $10.38 million of 0% digital notes due Feb. 5, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its 10% buffer, the payout at maturity will be $1,101.80 per $1,000 of notes.

Otherwise, investors will lose 1.1111% for each 1% decline beyond 10%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Digital notes
Underlying index:	S&P 500 index
Amount:	$10,378,000
Maturity:	Feb. 5, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains or falls by up to 10%, $1,101.80 per $1,000 of notes; otherwise, 1.1111% loss for each 1% decline beyond 10%
Initial level:	2,970.27
Buffer level:	90% of initial level
Pricing date:	Oct. 11
Settlement date:	Oct. 21
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78015KEB6

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