New Issue: RBC prices $1.99 million buffered return notes linked to Dow

By Sarah Lizee

Olympia, Wash., March 5 – Royal Bank of Canada priced $1.99 million of 0% buffered return notes due March 2, 2026 linked to the Dow Jones industrial average, 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 the index return. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Buffered return notes
Underlying index:	Dow Jones industrial average
Amount:	$1,985,000
Maturity:	March 2, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus index return; par if index declines by buffer level or less; 1% loss for every 1% that index declines beyond buffer
Initial level:	27,081.36
Buffer level:	21,665.09, or 80% of initial level
Pricing date:	Feb. 25
Settlement date:	Feb. 28
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78015KNT7

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