New Issue: RBC sells $4.98 million capped buffer gears linked to S&P 500

By William Gullotti

Buffalo, N.Y., April 1 – Royal Bank of Canada priced $4.98 million of 0% capped buffer gears due March 28, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par of $10 plus double the index return, capped at par plus 20.6%.

Investors will receive par if the index declines by 10% or less and lose 1% for every 1% that the index declines beyond 10%.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Capped buffer gears
Underlying index:	S&P 500 index
Amount:	$4,979,000
Maturity:	March 28, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index return is greater than zero, par plus two times the index return, capped at par plus 20.6%; par if the index declines by 10% or less; 1% loss for every 1% decline beyond 10%
Initial level:	4,575.52
Downside threshold:	4,117.97; 90% of initial level
Pricing date:	March 28
Settlement date:	March 31
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	2%
Cusip:	78016C606

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