New Issue: RBC prices $5.2 million digital index-linked notes on S&P 500

By William Gullotti

Buffalo, N.Y., Nov. 9 – Royal Bank of Canada priced $5.2 million of 0% digital index-linked notes due Aug. 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its 87.5% buffer level, the payout at maturity will be $1,059 per $1,000 principal amount of notes. Otherwise, investors will lose 1.1429% for every 1% that the index declines beyond 12.5%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital index-linked notes
Underlying index:	S&P 500 index
Amount:	$5,198,000
Maturity:	Aug. 31, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index’s final level is greater than or equal to buffer level, par plus 5.9%; otherwise, 1.1429% loss for every 1% that index declines beyond 12.5%
Initial index level:	4,419.15
Buffer level:	87.5% of initial level
Pricing date:	July 29
Settlement date:	Aug. 5
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78016EQD2

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