New Issue: RBC prices $7.82 million leveraged index-linked notes tied to S&P 500

By William Gullotti

Buffalo, N.Y., May 17 – Royal Bank of Canada priced $7.82 million of 0% leveraged index-linked notes due July 16, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes above its initial level, the payout at maturity will be par plus triple the gain, up to a maximum payout of par plus 36.6%. Investors will lose 1% for every 1% decline from its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Leveraged index-linked notes
Underlying index:	S&P 500 index
Amount:	$7,818,000
Maturity:	July 16, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index closes above initial level, par plus three times gain, up to maximum settlement amount of par plus 36.6%; 1% loss for every 1% decline from initial level
Initial index level:	3,930.08
Pricing date:	May 12
Settlement date:	May 19
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78016FK45

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