New Issue: RBC prices $1.64 million buffer enhanced absolute return notes on S&P, Russell

By William Gullotti

Buffalo, N.Y., March 21 – Royal Bank of Canada priced $1.64 million of buffer enhanced absolute return notes due March 11, 2027 linked to the performance of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the least performing index finishes at or above its initial level, the payout at maturity will be par plus 105.3% of that index’s return.

If the worst performer declines up to the buffer level, 80% of initial level, the payout will be par plus the absolute value of that index’s return.

Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 20%.

RBC Capital Markets LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffer enhanced absolute return notes
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$1.64 million
Maturity:	March 11, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If least performing index finishes at or above its initial level, par plus 105.3% of that index’s return; if the worst performer declines no more than 20%, par plus the absolute value of that index’s return; otherwise, 1% loss for every 1% decline of the worst performer beyond 20%
Initial levels:	2,082.713 for Russell, 5,123.69 for S&P
Buffer levels:	1,666.17 for Russell, 4,098.95 for S&P; 80% of initial levels
Pricing date:	March 8
Settlement date:	March 13
Underwriter:	RBC Capital Markets LLC
Fees:	None
Cusip:	78017FG56

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