New Issue: RBC prices $391,000 buffered enhanced absolute return notes linked to S&P 500

Chicago, April 19 – Royal Bank of Canada priced $391,000 of 0% buffered enhanced absolute return notes due July 24, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 125% of the return, capped at par plus 11.68%.

Investors will gain 1% for each 1% decline if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.

RBC Capital Markets, LLC is the selling agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced absolute return notes
Underlying index:	S&P 500 index
Amount:	$391,000
Maturity:	July 24, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 125% of index return, capped at par plus 11.68%; if index declines by 10% or less, gain 1% for each 1% of index decline; otherwise, 1% loss for every 1% of index decline beyond 10%
Initial level:	4,839.81
Buffer level:	4,355.83; 90% of initial level
Pricing date:	Jan. 19
Settlement date:	Jan. 24
Selling agent:	RBC Capital Markets, LLC
Fees:	0%
Cusip:	78017FAM5

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