New Issue: RBC prices $2.79 million market-linked securities tied to S&P

Chicago, June 15 – Royal Bank of Canada priced $2.79 million of 0% market-linked securities with upside participation to a cap with contingent absolute return and fixed percentage buffered downside due June 5, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above where it started, the payout at maturity will be par plus the return capped at par plus 21%.

If the index declines, but not more than 15%, the payout will be par plus the absolute value of the index return.

Otherwise, investors will lose 1% for each 1% decline beyond the 15% buffer.

Wells Fargo Securities, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Market-linked securities – upside participation to a cap with contingent absolute return and fixed percentage buffered downside
Underlying index:	S&P 500 index
Amount:	$2,785,000
Maturity:	June 5, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus index return, if index finishes positive, capped at par plus 21%; par plus absolute value of index return if index declines but not more than 15%; otherwise 1% loss for each 1% decline beyond 15% buffer
Initial level:	4,179.83
Buffer level:	3,552.8555; 85% of initial level
Pricing date:	May 31
Settlement date:	June 5
Agent:	Wells Fargo Securities, LLC
Fees:	2.575%
Cusip:	78016HZK9

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