New Issue: RBC prices $4.6 million geared buffered enhanced return notes linked to S&P

By Kiku Steinfeld

Chicago, Sept. 24 – Royal Bank of Canada priced $4.6 million of 0% geared buffered enhanced return notes due May 19, 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 15.5%. 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 agent.

Issuer:	Royal Bank of Canada
Issue:	Geared buffered enhanced return notes
Underlying index:	S&P 500
Amount:	$4,600,000
Maturity:	May 19, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 150% of index return, capped at par plus 15.5%; par if index declines by 20% or less; 1.25% loss for every 1% that index may decline beyond 20%
Initial index level:	3,401.20
Buffer level:	80% of initial level
Pricing date:	Sept. 16
Settlement date:	Sept. 21
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78015KXR0

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