New Issue: RBC prices $3.36 million geared buffered enhanced return notes linked to S&P

By William Gullotti

Buffalo, N.Y., Oct. 19 – Royal Bank of Canada priced $3.36 million of 0% geared buffered enhanced return notes due Nov. 14, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, capped at par plus 14.2%.

Investors will receive par if the index declines by 15% or less and will lose 1.1765% for every 1% that the index declines beyond 15%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Geared buffered enhanced return notes
Underlying index:	S&P 500 index
Amount:	$3,358,000
Maturity:	Nov. 14, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 1.5 times index return, capped at 14.2%; par if index declines by 15% or less; otherwise, 1.1765% loss for every 1% that index declines beyond 15%
Initial index level:	4,376.95
Buffer level:	3,720.41; 85% of initial level
Strike date:	Oct. 11
Pricing date:	Oct. 13
Settlement date:	Oct. 18
Underwriter:	RBC Capital Markets, LLC
Fees:	0.05%
Cusip:	78016NV61

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