New Issue: RBC sells $6.13 million absolute return notes with rebate feature on S&P

By Sarah Lizee

Olympia, Wash., Nov. 29 – Royal Bank of Canada priced $6.13 million of 0% absolute return notes with rebate feature due June 1, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive the payout at maturity will be par.

If the index return is negative but greater than or equal to 70% of the initial level, the payout will be par plus the absolute value of the index return.

If the index falls by more than 30%, the payout will be par plus the rebate return of 9%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Absolute return notes with rebate feature
Underlying index:	S&P 500
Amount:	$6,133,000
Maturity:	June 1, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is zero or positive, par; if the index return is negative but greater than or equal to 70% of the initial level, par plus absolute value of the index return; if the index falls by more than 30%, par plus 9%
Initial index level:	2,673.45
Pricing date:	Nov. 26
Settlement date:	Nov. 29
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78013XS74

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