New Issue: RBC prices $2 million of capped buffer notes linked to S&P 500, Russell

By Susanna Moon

Chicago, Nov. 14 – Royal Bank of Canada priced $2 million of 0% capped buffer notes due Sept. 16, 2022 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its 88% threshold, the payout at maturity will be par plus 1.48 times the return of the worse performing index plus 12%, up to a maximum return of 59.2%.

Otherwise, investors will lose 1% for each 1% decline beyond 12%.

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

Issuer:	Royal Bank of Canada
Issue:	Capped buffer notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$2 million
Maturity:	Sept. 16, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above 88% threshold, par plus 1.48 times the return of the worse performing index plus 12%, up to a maximum return of 59.2%; otherwise, 1% loss per 1% decline beyond 12%
Initial levels:	2,590.64 for S&P, 1,479.091 for Russell
Barrier levels:	2,279.76 for S&P, 1,301.60 for Russell, 88% of initial levels
Pricing date:	Nov. 7
Settlement date:	Nov. 10
Agents:	RBC Capital Markets, LLC and UBS Financial Services Inc.
Fees:	1.5%
Cusip:	78013XAA6

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