New Issue: RBC sells $938,000 upside participation market-linked contingent minimum notes

Chicago, April 19 – Royal Bank of Canada priced $938,000 of 0% market-linked securities with upside participation and contingent minimum return and contingent downside due July 24, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be the greater of par plus 35.5% and par plus the index gain.

If the index falls by up to 30%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the index from its initial level.

Wells Fargo Securities, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Market-linked securities – upside participation with contingent minimum return and contingent downside
Underlying index:	S&P 500 index
Amount:	$938,000
Maturity:	July 24, 2029
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above initial level, the greater of par plus 35.5% and par plus the index gain; if the index falls by up to 30%, par; otherwise, lose 1% for every 1% of index decline from initial level
Initial level:	4,839.81
Buffer level:	3,387.867; 70% of initial level
Pricing date:	Jan. 19
Settlement date:	Jan. 24
Agent:	Wells Fargo Securities, LLC
Fees:	3.87%
Cusip:	78017FC43

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