By Marisa Wong
Morgantown, W.Va., June 14 – Royal Bank of Canada priced $1.11 million of 0% barrier booster notes due June 2, 2025 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 42%, the payout at maturity will be par plus the index return.
If the index return is zero or positive but does not exceed 42%, the payout will be par plus 42%.
If the index return is negative but not less than negative 25%, the payout will be par.
If the index return is less than negative 25%, 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
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| Underlying index: | S&P 500
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| Amount: | $1.11 million
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| Maturity: | June 2, 2025
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If index return is greater than 42%, par plus index return; if index return is zero or positive but does not exceed 42%, par plus 42%; if index return is negative but not less than negative 25%, par; if index return is less than negative 25%, 1% loss for every 1% that final level is less than initial level
|
| Initial level: | 2,802.39
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| Barrier level: | 2,101.79, 75% of initial level
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| Pricing date: | May 28
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| Settlement date: | May 31
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| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | 3.25%
|
| Cusip: | 78013X7B8
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