New Issue: RBC prices $1.2 million buffered enhanced return notes on Gold Miners

By Wendy Van Sickle

Columbus, Ohio, March 26 – Royal Bank of Canada priced $1.2 million of 0% buffered enhanced return notes due March 25, 2026 linked to the VanEck Gold Miners ETF, 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 110% of the ETF return, subject to a maximum return of 64.6%. If the ETF declines by up to 15%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 15%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying ETF:	VanEck Gold Miners ETF
Amount:	$1,195,000
Maturity:	March 25, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 110% of ETF return, subject to maximum return of 64.6%; if ETF declines by up to 15%, par; otherwise, 1% loss for every 1% that ETF declines beyond 15%
Initial level:	$29.06
Buffer level:	$24.70, or 85% of initial level
Pricing date:	March 20
Settlement date:	March 25
Agent:	RBC Capital Markets, LLC
Fees:	0%
Cusip:	78017FP56

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