New Issue: RBC prices $2.44 million barrier enhanced return notes linked to S&P, Dow

By Wendy Van Sickle

Columbus, Ohio, March 15 – Royal Bank of Canada price $2.44 million of 0% barrier enhanced return notes due Feb. 25, 2027 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 125% of any gain of the lesser performing index.

Investors will receive par if the lesser performing index falls by up to 65% and will be fully exposed to the decline of the lesser performing index if it falls beyond the 65% barrier level.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Barrier enhanced return notes
Basket components:	S&P 500 and Dow Jones industrial average
Amount:	$2.44 million
Maturity:	Feb. 25, 2027
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 125% of any gain of lesser-performing index; par if lesser-performing index falls by up to 35%; full exposure to loss if lesser-performing falls by more than 35%
Initial index levels:	3,876.5 for S&P, 31,521.69 for Dow
Barrier levels:	2,519.73 for S&P, 20,489.1 for Dow; 65% of initial levels
Pricing date:	Feb. 22
Settlement date:	Feb. 25
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78016EDL8

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