New Issue: RBC prices $8.55 million geared buffered enhanced return notes linked to S&P

By Sarah Lizee

Olympia, Wash., July 7 – Royal Bank of Canada priced $8.55 million of 0% geared buffered enhanced return notes due March 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 150% of the index return, capped at par plus 19.15%. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that the index may decline beyond 20%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Geared buffered enhanced return notes
Underlying index:	S&P 500
Amount:	$8.55 million
Maturity:	March 29, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 150% of index return, capped at par plus 19.15%; par if index declines by 20% or less; 1.25% loss for every 1% that index may decline beyond 20%
Initial index level:	3,050.33
Buffer level:	80% of initial level
Pricing date:	June 25
Settlement date:	June 30
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78015KUX0

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