New Issue: RBC sells $11.09 million four-year fixed coupon notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., March 13 – Royal Bank of Canada priced $11.09 million of 4.85% fixed-coupon notes due March 3, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable semiannually.

The payout at maturity will be par unless the index finishes below its 80% buffer level, in which case investors will lose 1.25% for every 1% decline of the index beyond the buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Fixed coupon notes
Underlying index:	S&P 500
Amount:	$11,091,000
Maturity:	March 3, 2023
Coupon:	4.85%, payable semiannually
Price:	Par
Payout at maturity:	Par unless the index finishes below its	buffer level, in which case 1.25% loss for every 1% decline beyond 20%
Initial level:	2,784.49
Buffer level:	2,227.59, 80% of initial level
Pricing date:	Feb. 28
Settlement date:	March 5
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78013XZG6

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