New Issue: RBC sells $1.38 million absolute return buffered notes on S&P 500, Dow

By Wendy Van Sickle

Columbus, Ohio, April 6 – Royal Bank of Canada priced $1.38 million of 0% absolute return buffered return notes due March 31, 2026 linked to a basket of the S&P 500 index and the Dow Jones industrial average, each with 50% weights, according to a 424B2 filing with the Securities and Exchange Commission.

If each the basket finishes at or above its initial level, the payout at maturity will be par plus 110% of the return of the basket.

If the basket falls by up to 20%, the payout will be par plus the absolute value of the return of the basket.

If the basket falls by more than 20%, investors will lose 1% for every 1% decline of the basket beyond 20%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Absolute return buffered return notes
Basket components:	S&P 500, Dow Jones industrial average, each with 50% weights
Amount:	$1,378,000
Maturity:	March 31, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 110% of any gain in basket; par plus absolute value of return of basket if it falls by up to 20%; otherwise, 1% loss per 1% decline of basket beyond 20%
Initial levels:	2,630.07 for S&P, 22,552.17 for Dow
Pricing date:	March 26
Settlement date:	March 31
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78015KRC0

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