New Issue: RBC prices $2.5 million buffered digital notes on S&P 500, Russell 2000

By Marisa Wong

Morgantown, W.Va., Feb. 27 – Royal Bank of Canada priced $2.5 million of 0% buffered digital securities with maturity valuation period due March 27, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The final level of each index will be the average of its closing levels for the trading days during the valuation period from June 24, 2019 to Sept. 23, 2019, inclusive.

If the return of the lesser performing index is at least negative 20%, the payout at maturity will be par plus the digital return of 14.6%. Otherwise, investors will lose 1% for every 1% decline of the worse performing index beyond the buffer.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Buffered digital notes
Underlying indexes:	S&P 500 index and Russell 2000 index
Amount:	$2.5 million
Maturity:	March 27, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains or falls by up to 20%, par plus 14.6%; otherwise 1% loss for each 1% decline of worse performing index beyond 20%
Initial levels:	2,347.22 for S&P and 1,399.133 for Russell
Final levels:	Average of closing levels for trading days during valuation period from June 24, 2019 to Sept. 23, 2019, inclusive
Pricing date:	Feb. 17
Settlement date:	Feb. 23
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1.9%
Cusip:	78014E356

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