New Issue: RBC prices $2.51 million leveraged buffered index-linked notes tied to S&P

By Kiku Steinfeld

Chicago, Dec. 28 - Royal Bank of Canada priced $2.51 million of 0% leveraged buffered index-linked notes due Sept. 9, 2021 tied 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 1.5 times the index gain, subject to a maximum settlement of $1,180 per $1,000 note.

Investors will receive par if the index falls by up to 12.5% and will share in losses at a rate of 114.29% per 1% drop beyond the 12.5% buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Leveraged buffered index-linked notes
Underlying index:	S&P 500
Amount:	$2,508,000
Maturity:	Sept. 9, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 150% of index gain, with maximum settlement amount of $1,180 per $1,000 note; par if index falls by up to 12.5%; 114.29% loss for every 1% decline beyond 12.5%
Initial level:	3,168.57
Buffer level:	87.5% of initial level
Pricing date:	Dec. 12
Settlement date:	Dec. 19
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78015KGZ1

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