New Issue: RBC prices $1.58 million buffered enhanced return notes tied to S&P 500

By Susanna Moon

Chicago, July 31 – Royal Bank of Canada priced $1.58 million of 0% buffered enhanced return notes due July 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any gain in the index, up to a maximum return of 15%.

Investors will receive par if the index falls by up to 13.5% and will lose 1% for each 1% decline beyond 13.5%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying index:	S&P 500
Amount:	$1,581,000
Maturity:	July 31, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain, capped at 15%; par if index falls by 13.5% or less; 1% loss per 1% decline beyond 13.5%
Initial level:	2,477.83
Pricing date:	July 26
Settlement date:	July 31
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78012K3B1

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