New Issue: RBC sells $4.14 million barrier return notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., March 2 – Royal Bank of Canada priced $4.14 million of 0% barrier return notes due Aug. 28, 2023 linked to the S&P 500 index, 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. If the index return is between zero and negative 50%, inclusive, the payout will be par. If the index return is less than negative 50%, investors will lose 1% for every 1% that the index declines from its initial level.

RBC Capital Markets LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Barrier return notes
Underlying index:	S&P 500
Amount:	$4,137,000
Maturity:	Aug. 28, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus the index return; if the index return is between zero and negative 50%, inclusive, par; if the index return is less than negative 50%, 1% loss for every 1% that the index declines from its initial level
Initial level:	2,747.30
Barrier level:	1,373.65, 50% of initial level
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	RBC Capital Markets, LLC
Fees:	2.75%
Cusip:	78013XGG7

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