New Issue: RBC sells $5.95 million contingent return optimization notes on S&P 500

By Marisa Wong

Morgantown, W.Va., Sept. 1 – Royal Bank of Canada priced $5.95 million of 0% contingent return optimization securities due Aug. 31, 2018 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 the trigger level, 80% of the initial level, the payout at maturity will be par plus the greater of the index return and 10%, up to a maximum return of 41.18%.

Otherwise, investors will be exposed to any losses.

RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.

Issuer:	Royal Bank of Canada
Issue:	Contingent return optimization securities
Underlying index:	S&P 500
Amount:	$5,949,900
Maturity:	Aug. 31, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above the trigger level, par plus the greater of the index return and 10%, up to a maximum return of 41.18%; otherwise, investors will be exposed to any losses
Initial level:	1,940.51
Trigger level:	1,552.41, 80% of initial level
Pricing date:	Aug. 26
Settlement date:	Aug. 31
Agents:	RBC Capital Markets, LLC and UBS Financial Services Inc.
Fees:	2.5%
Cusip:	78013D524

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