New Issue: RBC prices $2.48 million barrier enhanced return notes linked to S&P 500

By William Gullotti

Buffalo, N.Y., April 29 – Royal Bank of Canada priced $2.48 million of 0% barrier enhanced return notes due Oct. 29, 2027 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 110% of the return. Investors will receive par if the index declines by 25% or less and will lose 1% for every 1% that the index declines from initial level.

RBC Capital Markets, LLC is the selling agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier enhanced return notes
Underlying index:	S&P 500 index
Amount:	$2,483,000
Maturity:	Oct. 29, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus 110% of the index return; par if index declines by 25% or less; otherwise, 1% loss for every 1% that the index declines from initial level
Initial level:	4,175.2
Barrier level:	3,131.4; 75% of initial level
Pricing date:	April 26
Settlement date:	April 29
Selling agent:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78016FHP2

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