New Issue: RBC prices $667,000 buffered autocallables linked to SPDR S&P Oil & Gas ETF

By Angela McDaniels

Tacoma, Wash., Dec. 6 – Royal Bank of Canada priced $667,000 of 0% autocallable market-linked securities with fixed percentage buffered downside due Dec. 2, 2022 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus 12% per year if the ETF closes at or above the initial share price on any annual call observation date.

If the notes are not called, the payout at maturity will be par unless the final share price is less than the buffer price, 85% of the initial share price, in which case investors will lose 1% for every 1% that the ETF declines beyond 15%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Autocallable market-linked securities with fixed percentage buffered downside
Underlying ETF:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$667,000
Maturity:	Dec. 2, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless final share price is less than buffer price, in which case 1% loss for every 1% that ETF declines beyond 15%
Call:	Automatically at par plus 12% per year if ETF closes at or above initial share price on Dec. 2, 2020, Dec. 2, 2021 or Nov. 25, 2022
Initial share price:	$20.70
Buffer price:	$17.595, or 85% of initial share price
Pricing date:	Nov. 26
Settlement date:	Dec. 2
Agent:	Wells Fargo Securities, LLC
Fees:	2.925%
Cusip:	78015KBU7

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