New Issue: RBC prices $1.5 million buffer return notes on S&P, Dow

By Sarah Lizee

Olympia, Wash., March 3 – Royal Bank of Canada priced $1.5 million of 0% buffer return notes due Aug. 29, 2024 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 95% of any gain in the lesser performing index.

Investors will receive par if the lesser performing index falls by up to 20% and will lose 1% for each 1% decline of the lesser performing index beyond 20%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffer return notes
Underlying indexes:	S&P 500, Dow Jones industrial average
Amount:	$1.5 million
Maturity:	Aug. 29, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 95% any gain of lesser performing index; par if lesser performing index falls by up to buffer level; 1% loss per 1% decline of lesser performing index beyond buffer
Initial levels:	3,116.39 for S&P, 26,957.59 for Dow
Buffer levels:	2,493.11 for S&P, 21,566.07 for Dow, 80% of initial level
Pricing date:	Feb. 26
Settlement date:	Feb. 28
Underwriter:	RBC Capital Markets, LLC
Fees:	3%
Cusip:	78015KRK2

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