New Issue: RBC prices $7.41 million leveraged buffered notes on SPDR S&P Bank ETF

By Sarah Lizee

Olympia, Wash., May 29 – Royal Bank of Canada priced $7.41 million of 0% leveraged notes due June 26, 2019 tied to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is zero or positive, the payout at maturity will be par plus 500% times the fund return, subject to a maximum payout of $1,175 for each $1,000 principal amount of notes.

If the fund falls, the payout will be par plus the fund return with full exposure to losses.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Leveraged notes
Underlying fund:	SPDR S&P Bank ETF
Amount:	$7,405,000
Maturity:	June 26, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is zero or positive, par plus 500% of the fund return, subject to a maximum payout of $1,175 for each $1,000 principal amount of notes; if fund return is negative, par plus fund return
Initial price:	$49.96
Pricing date:	May 24
Settlement date:	June 1
Underwriter:	RBC Capital Markets, LLC
Fees:	1.07%
Cusip:	78013XKX5

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