New Issue: RBC prices $465,000 4% fixed-coupon notes with barrier on S&P, Russell

By Sarah Lizee

Olympia, Wash., Feb. 21 – Royal Bank of Canada priced $465,000 of 4% fixed-coupon notes with barrier due Feb. 20, 2025 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless either index finishes below its 65% barrier level, in which case investors will lose 1% for every 1% decline of the lesser performing index.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Fixed-coupon notes with barrier
Underlying indexes:	S&P 500, Russell 2000
Amount:	$465,000
Maturity:	Feb. 20, 2025
Coupon:	4%, payable monthly
Price:	Par
Payout at maturity:	Par unless either index finishes below its barrier level, in which case investors will lose 1% for every 1% decline of the lesser performing index
Initial levels:	1,687.584 for Russell, 3,380.16 for S&P
Barrier levels:	1,096.93 for Russell, 2,197.1 for S&P; 65% of initial levels
Pricing date:	Feb. 14
Settlement date:	Feb. 20
Agents:	RBC Capital Markets, LLC
Fees:	1.25%
Cusip:	78015KMT8

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