New Issue: RBC sells $2 million buffered enhanced return notes on index basket

By Wendy Van Sickle

Columbus, Ohio, Dec. 24 – Royal Bank of Canada priced $2 million of 0% buffered enhanced return notes due Dec. 26, 2023 linked to an equally weighted basket of equity indexes consisting of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the basket return is positive, the payout at maturity will be par plus 110% of the gain.

Investors will receive par if the basket finishes flat or falls by up to 25% and will lose 1% for each 1% decline beyond the 25% buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying basket:	S&P 500 (50% weight), Dow Jones industrial average (50% weight)
Amount:	$2 million
Maturity:	Dec. 26, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 110% of any basket gain; par if basket finishes flat or declines by up to 25%; 1% loss per 1% drop beyond 25%
Initial values:	2,467.42 for S&P 500 and 22,859.6 for Dow
Pricing date:	Dec. 20
Settlement date:	Dec. 26
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78013XUZ9

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