New Issue: RBC prices $6.42 million bullish barrier digital plus notes on S&P 500

By Toni Weeks

San Luis Obispo, Calif., Aug. 3 – Royal Bank of Canada priced $6.42 million of 0% bullish barrier digital plus securities due Feb. 2, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index gains by more than the 141% threshold, the payout will be par plus the gain.

If the index gains by up to the threshold, the payout will be par plus the digital return of 41%.

Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% barrier level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Bullish barrier digital plus notes
Underlying index:	S&P 500
Amount:	$6,416,000
Maturity:	Feb. 2, 2021
Price:	Par
Payout at maturity:	If index gains more than 41%, par plus return; if index gains by up to 41%, par plus 41%; par if index falls by up to 25%; full exposure to losses from initial level if index finishes below 75% barrier level
Initial index level:	2,108.57
Barrier level:	1,581.43, 75% of initial level
Pricing date:	July 29
Settlement date:	July 31
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78012KFS1

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