New Issue: RBC sells $1.4 million four-year buffered return notes tied to S&P 500

By Marisa Wong

Morgantown, W.Va., March 13 – Royal Bank of Canada priced $1.4 million of 0% buffered return notes due March 3, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain. If the index finishes flat or falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the index beyond the buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered return notes
Underlying index:	S&P 500
Amount:	$1.4 million
Maturity:	March 3, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain; if index finishes flat or falls by up to 20%, par; otherwise, 1% loss for every 1% decline of the index beyond the buffer
Initial level:	2,784.49
Buffer level:	2,227.59, 80% of initial level
Pricing date:	Feb. 28
Settlement date:	March 5
Agent:	RBC Capital Markets, LLC
Fees:	2.5%
Cusip:	78013X2Q0

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