New Issue: RBC prices $3 million contingent digital return buffer notes on SPDR S&P 500

By Wendy Van Sickle

Columbus, Ohio, Aug. 28 – Royal Bank of Canada priced $3 million of 0% contingent digital return buffer notes due Sept. 4, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF finishes at or above its buffer level, 86.1% of initial level, the payout at maturity will be par plus 9%.

Otherwise, investors will lose 1.1614% for every 1% decline beyond 13.9%.

RBC Capital Markets, LLC is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.

Issuer:	Royal Bank of Canada
Issue:	Contingent digital return buffer notes
Underlying fund:	SPDR S&P 500 ETF Trust
Amount:	$3 million
Maturity:	Sept. 4, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the ETF finishes at or above its buffer level, the payout at maturity will be par plus 9%; otherwise, lose 1.1614% for every 1% decline beyond 13.9%
Initial level:	$436.29
Buffer level:	$375.65; 86.1% of initial level
Pricing date:	Aug. 18
Settlement date:	Aug. 23
Underwriter:	RBC Capital Markets, LLC
Placement agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1.25%
Cusip:	78015QFP1

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