New Issue: RBC prices $1.12 million buffered bullish return notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Nov. 30 – Royal Bank of Canada priced $1.12 million of 0% buffered bullish return notes due March 31, 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 index return. Investors will receive par if the index falls by 20% or less and will lose 1% for every 1% that it declines beyond 20%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered bullish return notes
Underlying index:	S&P 500
Amount:	$1,121,000
Maturity:	March 31, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 104% of any index gain; par if index falls by 20% or less; 1% loss for every 1% that index declines beyond 20%
Initial level:	2,089.14
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agent:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78012KJH1

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