New Issue: RBC prices $3.23 million bullish barrier booster notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., March 29 – Royal Bank of Canada priced $3.23 million of 0% bullish barrier booster notes due March 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than 52%, the payout at maturity will be par plus the index return.

If the index return is positive but does not exceed 52%, the payout will be par plus 52%.

If the index return is zero to negative 30%, the payout will be par.

If the index return is less than negative 30%, investors will lose 1% for every 1% that the final level is less than the initial level.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Bullish barrier booster notes
Underlying index:	S&P 500
Amount:	$3,234,000
Maturity:	March 31, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than 52%, par plus index return; if index return is positive but does not exceed 52%, par plus 52%; if index return is zero to negative 30%, par; if index return is less than negative 30%, 1% loss for every 1% that final level is less than initial level
Initial index level:	2,037.05
Barrier level:	1,425.94, 70% of initial level
Pricing date:	March 28
Settlement date:	March 31
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78012KLU9

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