New Issue: RBC prices $1.26 million digital notes with barrier linked to S&P 500

By William Gullotti

Buffalo, N.Y., May 31 – Royal Bank of Canada priced $1.26 million of 0% digital notes with barrier due Nov. 29, 2023 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 75% of its initial level, the payout at maturity will be par plus 11.5%.

Otherwise, investors will lose 1% for every 1% that the index declines from its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital notes with barrier
Underlying index:	S&P 500 index
Amount:	$1,255,000
Maturity:	Nov. 29, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above barrier level, par plus 11.5%; otherwise, full exposure to index decline from initial level
Initial index level:	3,941.48
Barrier level:	2,956.11; 75% of initial level
Pricing date:	May 24
Settlement date:	May 27
Agent:	RBC Capital Markets, LLC
Fees:	1.75%
Cusip:	78016FKE3

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