New Issue: RBC prices $7.43 million leveraged buffered notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 18 – Royal Bank of Canada priced $7.43 million of 0% leveraged buffered notes due Aug. 29, 2017 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 140% of the gain, subject to a maximum settlement amount of $1,147 for each $1,000 principal amount. Investors will receive par if the index falls by 12.5% or less and lose 1.1429% for every 1% decline in the index beyond 12.5%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Leveraged buffered notes
Underlying index:	S&P 500
Amount:	$7,431,000
Maturity:	Aug. 29, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 140% of gain, subject to 14.7% maximum return; par if index falls by up to 12.5%; 1.1429% loss for every 1% decline in index beyond 12.5%
Initial index level:	2,082.78
Pricing date:	April 14
Settlement date:	April 21
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78012KNH6

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