New Issue: RBC prices $2.05 million buffered absolute return notes tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Oct. 30 – Royal Bank of Canada priced $2.05 million of 0% buffered absolute return notes due Oct. 31, 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 any gain in the index.

If the index declines by up to 20%, the payout will be par plus the absolute value of the return.

Otherwise, investors will lose 1% for every 1% decline beyond the 20% buffer.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered absolute return notes
Underlying index:	S&P 500
Amount:	$2,054,000
Maturity:	Oct. 31, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain; if index falls by up to 20%, par plus absolute value of its return; 1% loss for each 1% decline beyond 20%
Initial index level:	2,658.69
Buffer level:	2,126.95, 80% of initial level
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agent:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78013XM39

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