New Issue: RBC sells $5.09 million buffered return enhanced notes on S&P 500

By Susanna Moon

Chicago, Sept. 5 – Royal Bank of Canada priced $5.09 million of 0% buffered return enhanced notes due Aug. 31, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above its initial value, the payout at maturity will be par plus the gain.

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

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered return enhanced notes
Underlying index:	S&P 500 index
Amount:	$5,091,000
Maturity:	Aug. 31, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain; par if index declines by up to 20%; 1% loss per 1% drop beyond 20%
Initial value:	2,897.52
Pricing date:	Aug. 28
Settlement date:	Aug. 31
Agent:	RBC Capital Markets, LLC
Fees:	3%
Cusip:	78013XSE9

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