New Issue: RBC prices $3.86 million barrier booster notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 29 – Royal Bank of Canada priced $3.86 million of 0% barrier booster notes due Dec. 30, 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 51%, the payout at maturity will be par plus the index return.

If the index return is positive but does not exceed 51%, the payout will be par plus 51%.

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 agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier booster notes
Underlying index:	S&P 500
Amount:	$3,855,000
Maturity:	Dec. 30, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than 51%, par plus index return; if index return is positive but does not exceed 51%, par plus 51%; 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:	2,268.88
Barrier level:	1,588.22, 70% of initial level
Pricing date:	Dec. 27
Settlement date:	Dec. 30
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78012KWK9

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