New Issue: RBC prices $2.53 million digital notes with barrier linked to SPDR fund

By William Gullotti

Buffalo, N.Y., Oct. 16 – Royal Bank of Canada priced $2.53 million of 0% digital notes with barrier due Oct. 17, 2024 tied to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF finishes at or above initial level, the payout at maturity will be par plus 22.1%.

If the ETF declines but finishes at or above its 85% barrier, the payout will be par. Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital notes with barrier
Underlying fund:	SPDR S&P Regional Banking ETF
Amount:	$2,534,000
Maturity:	Oct. 17, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the ETF finishes at or above initial level, par plus 22.1%; if ETF falls by no more than 15%, par; otherwise, full exposure to decline
Initial level:	$41.09
Barrier level:	$34.93; 85% of initial level
Pricing date:	Oct. 6
Settlement date:	Oct. 12
Agent:	RBC Capital Markets, LLC
Fees:	2%
Cusip:	78016NS65

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