New Issue: RBC prices $3.97 million buffered enhanced return notes on SPDR Gold

By Wendy Van Sickle

Columbus, Ohio, March 25 – Royal Bank of Canada priced $3.97 million of 0% buffered enhanced return notes due March 25, 2026 linked to the SPDR Gold Shares, according to a 424B2 filing with the Securities and Exchange Commission.

If the asset return is positive, the payout at maturity will be par plus 115% of the asset return, subject to a maximum return of 40%. If the asset declines by up to 4%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the asset declines beyond 4%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying asset:	SPDR Gold Shares
Amount:	$3.97 million
Maturity:	March 25, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If asset return is positive, par plus 115% of asset return, subject to maximum return of 40%; if asset declines by up to 4%, par; otherwise, 1% loss for every 1% that asset declines beyond 4%
Initial level:	$199.80
Buffer level:	$191.81, or 96% of initial level
Pricing date:	March 20
Settlement date:	March 25
Agent:	RBC Capital Markets, LLC
Fees:	0%
Cusip:	78017FP64

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