New Issue: RBC prices $1.24 million buffered bullish return notes on S&P 500

By Marisa Wong

Morgantown, W.Va., Oct. 5 – Royal Bank of Canada priced $1.24 million of 0% capped buffered bullish return notes due April 2, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive but not more than 15%, the payout at maturity will be par plus 15%. If the index return is positive and more than 15%, the payout will be par plus the return, capped at 37.46%.

If the index falls by up to 20%, the payout will be par. If the index falls by more than 20%, investors will lose 1.25% for every 1% decline beyond the buffer.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Capped buffered bullish return notes
Underlying index:	S&P 500
Amount:	$1,235,000
Maturity:	April 2, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is zero or positive but not more than 15%, par plus 15%; if index return is positive and more than 15%, par plus the return, capped at 37.46%; if index falls by up to 20%, par; if index falls by more than 20%, 1.25% loss for every 1% decline beyond the buffer
Initial level:	1,881.77
Buffer level:	1,505.42, 80% of initial level
Pricing date:	Sept. 28
Settlement date:	Sept. 30
Agent:	RBC Capital Markets, LLC
Fees:	3%
Cusip:	78012KGP6

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