New Issue: RBC sells $15.64 million of leveraged buffered notes linked to S&P 500

By Devika Patel

Knoxville, Tenn., Feb. 26 – Royal Bank of Canada priced $15.64 million of 0% leveraged buffered notes due April 27, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any index gain, up to a maximum settlement amount of $1,300 per $1,000 of notes.

Investors will receive par if the index falls by 15% or less and will lose 1.1765% for every 1% decline in the index beyond 15%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Leveraged buffered notes
Underlying index:	S&P 500
Amount:	$15,641,000
Maturity:	April 27, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 1.5 times gain, subject to 30% maximum return; par if index falls by up to 15%; 1.1765% loss for every 1% decline in index beyond 15%
Initial index level:	2,064.29
Pricing date:	Feb. 24
Settlement date:	March 2
Agents:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78012KLL9

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