New Issue: RBC prices $2.56 million buffered enhanced return notes tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, March 5 – Royal Bank of Canada priced $2.56 million of 0% buffered enhanced return notes due March 3, 2026 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par plus 200% of the gain, subject to a maximum return of par plus 17.5%.

Investors will be exposed to any index decline beyond the 10% buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying index:	S&P 500 index
Amount:	$2.56 million
Maturity:	March 3, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above initial level, par plus 200% of the gain, capped at par plus 17.5%; otherwise, 1% loss for every 1% decline from initial level beyond 10% buffer
Initial index level:	5,069.53
Buffer levels:	4,562.58, 90% of initial level
Pricing date:	Feb. 26
Settlement date:	Feb. 29
Agent:	RBC Capital Markets, LLC
Fees:	2.044%
Cusip:	78017FEM1

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