New Issue: RBC prices $13.37 million leveraged buffered index-linked notes tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Jan. 12 – Royal Bank of Canada priced $13.37 million of 0% leveraged buffered index-linked notes due Oct. 23, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus 200% of the gain, up to a maximum payout of par plus 25.2%.

If the index finishes flat or falls by up to 20%, investors will receive par. Otherwise, investors will lose 1.25% for every 1% decline beyond 20%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Leveraged buffered index-linked notes
Underlying index:	S&P 500
Amount:	$13,374,000
Maturity:	Oct. 23, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes above initial level, par plus 200% of index gain, capped at par plus 25.2%; if index finishes flat or falls by up to 20%, par; 1.25% loss for every 1% decline beyond 20%
Initial index levels:	3,892.09
Buffer level:	80%
Pricing date:	Jan. 9
Settlement date:	Jan. 17
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78016HMU1

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