New Issue: RBC prices $1.32 million barrier enhanced return notes linked to S&P, Dow

By Wendy Van Sickle

Columbus, Ohio, April 3 – Royal Bank of Canada price $1.32 million of 0% barrier enhanced return notes due March 31, 2025 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 115% of any gain of the lesser performing index.

Investors will receive par if the lesser performing index falls by up to 50% and will be fully exposed to the decline of the lesser performing index if it falls beyond the 50% barrier level.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Barrier enhanced return notes
Basket components:	S&P 500 and Dow Jones industrial average
Amount:	$1,322,000
Maturity:	March 31, 2025
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 115% of any gain of lesser-performing index; par if lesser-performing index falls by up to 50%; full exposure to loss if lesser-performing falls by more than 50%
Initial index levels:	2,630.07 for S&P, 22,552.17 for Dow
Barrier levels:	1,315.04 for S&P, 11,276.09 for Dow; 50% of initial levels
Pricing date:	March 26
Settlement date:	March 31
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78015KPY4

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