New Issue: RBC sells $930,000 buffered return notes due 2025 linked to S&P 500

By Marisa Wong

Morgantown, W.Va., June 14 – Royal Bank of Canada priced $930,000 of 0% buffered return notes due March 5, 2025 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 index gain. If the index finishes flat or falls by up to 25%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the index beyond the buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered return notes
Underlying index:	S&P 500
Amount:	$930,000
Maturity:	March 5, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain; if index finishes flat or falls by up to 25%, par; otherwise, 1% loss for every 1% decline of the index beyond the buffer
Initial level:	2,802.39
Buffer level:	2,101.79, 75% of initial level
Pricing date:	May 28
Settlement date:	May 31
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78013X6X1

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