By Marisa Wong
Los Angeles, June 8 – Royal Bank of Canada priced $1.43 million of 0% barrier return notes due June 1, 2026 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 1.06 times the gain.
If the index finishes flat or falls by up to 45%, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
|
| Issue: | Barrier return notes
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| Underlying index: | S&P 500 index
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| Amount: | $1.43 million
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| Maturity: | June 1, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.06 times any index gain; par if index finishes flat or falls by up to 45%; otherwise, full exposure to index decline
|
| Initial level: | 3,036.13
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| Pricing date: | May 27
|
| Settlement date: | May 29
|
| Underwriter: | RBC Capital Markets, LLC
|
| Fees: | 3.25%
|
| Cusip: | 78015KVW1
|
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