New Issue: RBC sells $4.53 million digital index-linked notes due 2021 on S&P

By Sarah Lizee

Olympia, Wash., April 16 – Royal Bank of Canada priced $4.53 million of 0% digital index-linked notes due July 9, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above 90% of its initial level, the payout at maturity will be the threshold settlement amount of $1,132.60 per $1,000 of notes.

Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10% of its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital index-linked notes
Underlying index:	S&P 500 index
Amount:	$4,525,000
Maturity:	July 9, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index closes at or above 90% of its initial level, $1,132.60 per $1,000 of notes; otherwise, 1.1111% loss for every 1% that index declines beyond 10%
Initial index level:	2,659.41
Buffer level:	90% of initial level
Pricing date:	April 7
Settlement date:	April 15
Agent:	RBC Capital Markets, LLC
Fees:	1.23%
Cusip:	78015KLM4

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