New Issue: RBC sells $425,000 six-year buffered return notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., April 16 – Royal Bank of Canada priced $425,000 of 0% buffered return notes due April 2, 2024 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 107% of any index gain.

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

RBC Capital Markets LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered return notes
Underlying index:	S&P 500
Amount:	$425,000
Maturity:	April 2, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 107% of any index gain; par if the index falls by up to 20%; 1% loss for each 1% decline beyond the 20% buffer
Initial index level:	2,612.62
Buffer level:	2,090.10, 80% of initial level
Pricing date:	March 27
Settlement date:	March 29
Underwriter:	RBC Capital Markets LLC
Fees:	3.25%
Cusip:	78013XHA9

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