New Issue: RBC prices $1.19 million buffered return notes due 2022 on S&P 500

By Sarah Lizee

Olympia, Wash., May 30 – Royal Bank of Canada priced $1.19 million of 0% buffered return notes due June 3, 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 80% of any gain in the index.

Investors will receive par if the index falls by up to 30% and will lose 1% for each 1% decline beyond 30%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered return notes
Underlying index:	S&P 500
Amount:	$1,191,000
Maturity:	June 3, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 80% of any index gain; par if index falls by 30% or less; 1% loss per 1% decline beyond 30%
Initial level:	2,689.86
Buffer level:	1,882.9, 70% of initial level
Pricing date:	May 29
Settlement date:	May 31
Underwriter:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78013XKY3

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