New Issue: RBC sells $3.94 million contingent digital return buffer notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Aug. 10 – Royal Bank of Canada priced $3.94 million of 0% contingent digital return buffer notes due Aug. 21, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index gains, finishes flat or falls by up to 15%, payout at maturity will be par plus 9.51%. Otherwise, investors will lose 1.17647% for every 1% index decline beyond 15%.

RBC Capital Markets, LLC is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

Issuer:	Royal Bank of Canada
Issue:	Contingent digital return buffer notes
Underlying index:	S&P 500 index
Amount:	$3.94 million
Maturity:	Aug. 21, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 9.51% unless index falls by more than 15%, in which case 1.17647% loss for every 1% decline beyond 15%
Initial level:	4,155.17
Buffer level:	3,531.89, 85% of initial level
Pricing date:	Aug. 4
Settlement date:	Aug. 9
Agent:	RBC Capital Markets, LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
Fees:	1%
Cusip:	78016FR71

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