New Issue: RBC prices $5.5 million contingent digital return barrier notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, June 24 – Royal Bank of Canada priced $5.5 million of 0% contingent digital return barrier notes due Dec. 21, 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 its barrier level, 80% of initial level, the payout at maturity will be par plus 16.45%. Investors will be fully exposed to the decline otherwise.

RBC Capital Markets, LLC is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.

Issuer:	Royal Bank of Canada
Issue:	Contingent digital return barrier notes
Underlying index:	S&P 500 index
Amount:	$5.5 million
Maturity:	Dec. 21, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the index final level is greater than or equal to its barrier level, the payout at maturity will be par plus 16.45%; otherwise, full exposure to index’s decline from its initial level
Initial level:	3,666.77
Barrier level:	2,933.42; 80% of initial level
Pricing date:	June 17
Settlement date:	June 23
Underwriter:	RBC Capital Markets, LLC
Placement agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1.25%
Cusip:	78016FMC5

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