New Issue: RBC prices $2.3 million barrier booster notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, June 15 – Royal Bank of Canada priced $2.3 million of 0% barrier booster notes due June 15, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than the 40% booster, the payout at maturity will be par plus the index return.

If the index return is positive but does not exceed the booster, the payout will be par plus the booster.

If the index return is zero to negative 30%, the payout will be par.

If the index return is less than negative 30%, investors will lose 1% for every 1% that the final level is less than the initial level.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Barrier booster notes
Underlying index:	S&P 500
Amount:	$2,297,000
Maturity:	June 15, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains by more than 40%, par plus index return; if index gains by up to 40%, par plus 40%; if index falls by up to 30%, par; otherwise, 1% loss for each 1% decline from initial level
Initial level:	3,900.86
Barrier level:	2,730.6, 70% of initial level
Pricing date:	June 10
Settlement date:	June 15
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78016FLW2

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