New Issue: RBC prices $1.57 million contingent digital return barrier notes linked to BofA

By Sarah Lizee

Olympia, Wash., July 13 – Royal Bank of Canada priced $1.57 million of 0% contingent digital return barrier notes due July 20, 2021 linked to the common stock of Bank of America Corp., according to an FWP filing with the Securities and Exchange Commission.

If the stock’s return is greater than or equal to 70% of its initial level, the payout at maturity will be par plus 12.5%. Otherwise, investors will lose 1% for every 1% that the stock declines from its initial price.

RBC Capital Markets, LLC is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.

Issuer:	Royal Bank of Canada
Issue:	Contingent digital return barrier notes
Underlying:	Bank of America Corp.
Amount:	$1,565,000
Maturity:	July 20, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the stock’s return is greater than or equal to barrier price, the payout at maturity will be par plus 12.5%; otherwise, investors will lose 1% for every 1% that the stock declines from its initial price
Initial share price:	$23.29
Barrier price:	$16.30, 70% of initial level
Pricing date:	July 2
Settlement date:	July 8
Underwriter:	RBC Capital Markets, LLC
Placement agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	78015KXB5

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