New Issue: RBC prices $4.71 million market-linked notes tied to S&P 500 via Wells

By Susanna Moon

Chicago, Jan. 7 – Royal Bank of Canada priced $.71 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due July 6, 2021 linked to the S&P 500 index, according to a 424B5 filed with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any index gain, up to a maximum payment of $1,640 per $1,000 principal amount.

Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond 20%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying index:	S&P 500
Amount:	$4,709,000
Maturity:	July 6, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any index gain, capped at 64%; par if index falls by up to 20%; exposure to any losses beyond 20%
Initial level:	2,063.36
Buffer level:	1,650.688, 80% of initial level
Pricing date:	Dec. 30
Settlement date:	Jan. 5
Agent:	Wells Fargo Securities, LLC
Fees:	3.42%
Cusip:	78012KJT5

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