New Issue: RBC sells $3.96 million of leveraged buffered notes linked to S&P 500

Chicago, March 30 – Royal Bank of Canada priced $3.96 million of 0% leveraged buffered notes due Aug. 25, 2021 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 160% of any index gain, up to a maximum settlement amount of $1,260 per $1,000 of notes.

Investors will receive par if the index falls by 12.5% or less and will lose 1.1429% for every 1% decline in the index beyond 12.5%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Leveraged buffered notes
Underlying index:	S&P 500
Amount:	$3,964,000
Maturity:	Aug. 25, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 160% of the gain, subject to $1,260 maximum settlement amount; par if index falls by up to 12.5%; 1.1429% loss for every 1% decline in index beyond 12.5%
Initial index level:	2,386.13
Buffer level:	87.5%
Pricing date:	March 16
Settlement date:	March 23
Agents:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78015KQC1

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