New Issue: RBC sells $16.93 million leveraged buffered notes tied to S&P 500

By Sarah Lizee

Olympia, Wash., July 15 – Royal Bank of Canada priced $16.93 million of 0% leveraged buffered notes due June 8, 2022 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 140% of any index gain, up to a maximum settlement amount of $1,231 for each $1,000 principal amount of notes.

Investors will receive par if the index falls by up to 12.5% and will lose 1.1429% for each 1% decline 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:	$16,928,000
Maturity:	June 8, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 140% of any index gain, subject to $1,231 maximum settlement amount per $1,000 of notes; par if index falls by up to 12.5%; 1.1429% loss for each 1% decline beyond 12.5% buffer
Initial level:	3,185.04
Buffer level:	87.5% of initial level
Pricing date:	July 10
Settlement date:	July 17
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78015KYF5

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