New Issue: RBC prices $7.94 million digital index-linked notes tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, June 30 – Royal Bank of Canada priced $7.94 million of 0% digital index-linked notes due Aug. 20, 2025 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 82.5% of its initial level, the payout at maturity will be $1,200 per $1,000 principal amount of notes.

Otherwise, investors will lose 1.2121% for every 1% that the index declines beyond 17.5%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital index-linked notes
Underlying index:	S&P 500 index
Amount:	$7,942,000
Maturity:	Aug. 20, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above buffer level, $1,200 per $1,000 principal amount of notes; otherwise, 1.2121% loss for every 1% that index declines beyond 17.5%
Initial index level:	4,348.33
Buffer level:	82.5% of initial level
Pricing date:	June 23
Settlement date:	June 30
Agent:	RBC Capital Markets, LLC
Fees:	0%
Cusip:	78016NJR9

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