New Issue: RBC prices $2.4 million barrier enhanced return notes on SPDR S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 21 – Royal Bank of Canada priced $2.4 million of 0% barrier enhanced return notes due Feb. 21, 2025 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 200% of the return. Investors will receive par if the ETF declines by 20% or less and will lose 1% for every 1% that the ETF declines from initial level.

RBC Capital Markets, LLC is the selling agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier enhanced return notes
Underlying ETF:	SPDR S&P 500 ETF trust
Amount:	$2.4 million
Maturity:	Feb. 21, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the ETF return is positive, par plus 200% of the ETF return; par if ETF declines by 20% or less; otherwise, 1% loss for every 1% that the ETF declines from initial level
Initial level:	$469.33
Barrier level:	$375.46; 80% of initial level
Pricing date:	Dec. 20
Settlement date:	Dec. 23
Selling agent:	RBC Capital Markets, LLC
Fees:	2%
Cusip:	78017F4Z3

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