New Issue: RBC prices $1.86 million buffered bullish enhanced return notes on S&P

By Marisa Wong

Morgantown, W.Va., Nov. 5 – Royal Bank of Canada priced $1.86 million of 0% buffered bullish enhanced return notes due Jan. 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 104% of the gain.

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% for every 1% decline beyond the buffer.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish enhanced return notes
Underlying index:	S&P 500
Amount:	$1.86 million
Maturity:	Jan. 29, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus 104% of gain; if index falls by up to 20%, par; if index falls by more than 20%, 1% loss for every 1% decline beyond the buffer
Initial level:	2,065.89
Buffer level:	1,652.71, 80% of initial level
Pricing date:	Oct. 27
Settlement date:	Oct. 30
Agent:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78012KGU5

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