New Issue: RBC prices $5.72 million buffered enhanced return notes tied to S&P 500

By Susanna Moon

Chicago, July 28 – Royal Bank of Canada priced $5.72 million 0% buffered enhanced return notes due Jan. 31, 2022 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 104.75% of any index gain.

Investors will receive par if the index falls by up to the 20% buffer and will lose 1% for every 1% decline beyond the buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying index:	S&P 500
Amount:	$5,717,000
Maturity:	Jan. 31, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 104.75% of any index gain; if index falls by up to 20%, par; 1% loss per 1% drop beyond 20%
Initial index level:	2,169.18
Pricing date:	July 26
Settlement date:	July 29
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78012KPP6

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