New Issue: RBC prices $2 million digital notes with barrier linked to banking ETF

Chicago, Nov. 14 – Royal Bank of Canada priced $2 million of 0% digital notes with barrier due Nov. 14, 2025 tied to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF finishes at or above the 70% barrier level, the payout at maturity will be par plus 24.6%.

Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital notes with barrier
Underlying ETF:	SPDR S&P Regional Banking ETF
Amount:	$2,000,000
Maturity:	Nov. 14, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the ETF finishes at or above barrier level, par plus 24.6%; otherwise, full exposure to decline
Initial level:	$42.02
Barrier level:	$29.41; 70% of initial level
Pricing date:	Nov. 8
Settlement date:	Nov. 13
Agent:	RBC Capital Markets, LLC
Fees:	0%
Cusip:	78016N5J2

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