New Issue: RBC prices $5.95 million leveraged buffered notes linked to S&P 500

By Sarah Lizee

Olympia, Wash., Nov. 14 – Royal Bank of Canada priced $5.95 million of 0% leveraged buffered notes due April 7, 2021 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 140% of the gain, subject to a maximum return of 16.31%. Investors will receive par if the index decreases by up to 10% and will lose 1.1111% for every 1% that the index may decline beyond 10%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Leverage buffered notes
Underlying index:	S&P 500
Amount:	$5,945,000
Maturity:	April 7, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 140% of any index gain, up to 16.31% maximum return; par if index declines by 10% or less; 1.1111% loss for every 1% that index may decline beyond 10%
Initial level:	3,074.62
Buffer level:	90% of initial level
Pricing date:	Nov. 5
Settlement date:	Nov. 13
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78015KCY8

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