New Issue: RBC sells $9.28 million of leveraged buffered notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, April 20 – Royal Bank of Canada priced $9.28 million of 0% leveraged buffered notes due Oct. 18, 2023 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 150% of any index gain, up to a maximum settlement amount of $1,356.25 per $1,000 of notes.

Investors will receive par if the index falls by 15% or less and will lose 1.1765% for every 1% decline in the index beyond 15%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Leveraged buffered notes
Underlying index:	S&P 500
Amount:	$9.28 million
Maturity:	Oct. 18, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 150% of the gain, subject to $1,356.25 maximum settlement amount; par if index falls by up to 15%; 1.1765% loss for every 1% decline in index beyond 15%
Initial index level:	2,799.55
Buffer level:	85%
Pricing date:	April 16
Settlement date:	April 23
Agents:	RBC Capital Markets, LLC
Fees:	3.73%
Cusip:	78015KMV3

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