New Issue: RBC prices $1.01 million buffered enhanced return notes linked to Tesla

By William Gullotti

Buffalo, N.Y., April 12 – Royal Bank of Canada priced $1.01 million of 0% buffered enhanced return notes due Oct. 10, 2024 linked to the stock performance of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the stock return is positive, the payout at maturity will be par plus 200% of the return, capped at par plus 41%.

Investors will receive par if the stock declines by 30% or less and will lose 1% for every 1% that the stock declines beyond 30%.

RBC Capital Markets, LLC is the selling agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying stock:	Tesla, Inc.
Amount:	$1,005,000
Maturity:	Oct. 10, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If stock return is positive, par plus 200% of stock return, capped at par plus 41%; par if stock declines by 30% or less; otherwise, 1% loss for every 1% of stock decline beyond 30%
Initial level:	$185.06
Buffer level:	$129.54; 70% of initial level
Pricing date:	April 6
Settlement date:	April 12
Selling agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016HY20

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