New Issue: RBC prices $3.99 million digital index-linked notes linked to S&P 500

By William Gullotti

Buffalo, N.Y., June 21 – Royal Bank of Canada priced $3.99 million of 0% digital index-linked notes due Aug. 7, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above 85% of its initial level, the payout at maturity will be $1,090 per $1,000 principal amount of notes.

Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital index-linked notes
Underlying index:	S&P 500 index
Amount:	$3,985,000
Maturity:	Aug. 7, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above buffer level, $1,090 per $1,000 principal amount of notes; otherwise, 1.1765% loss for every 1% that index declines beyond 15%
Initial index level:	4,425.84
Buffer level:	85% of initial level
Pricing date:	June 15
Settlement date:	June 23
Agent:	RBC Capital Markets, LLC
Fees:	1.08%
Cusip:	78016NHH3

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