New Issue: RBC prices $17.4 million buffered enhanced return notes on SPDR Gold Shares

By Wendy Van Sickle

Columbus, Ohio, Nov. 6 – Royal Bank of Canada priced $17.4 million of 0% buffered enhanced return notes due Oct. 30, 2025 linked to the SPDR Gold Shares, 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 128% of the return, capped at par plus 50%.

Investors will receive par if the ETF declines by 7% or less and will lose 1% for every 1% that the ETF declines beyond 7%.

RBC Capital Markets, LLC is the selling agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying fund:	SPDR Gold Shares
Amount:	$17.4 million
Maturity:	Oct. 30, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 128% of ETF return, capped at par plus 50%; par if ETF declines by 7% or less; otherwise, 1% loss for every 1% of ETF decline beyond 7%
Initial level:	$186.15
Buffer level:	$173.12; 93% of initial level
Pricing date:	Oct. 27
Settlement date:	Nov. 1
Selling agent:	RBC Capital Markets, LLC
Fees:	0%
Cusip:	78016N2E6

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