New Issue: RBC prices $3.57 million bullish barrier return notes with digital coupon on S&P 500

New York, Aug. 28 – Royal Bank of Canada priced $3.57 million of bullish barrier return notes with digital coupon due March 3, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par plus the digital coupon of 42% or par plus the index return, whichever is greater.

If the index falls but remains at or above the 75% barrier level, the payout will be par.

Otherwise, investors will be exposed to losses from the initial level.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Bullish barrier return notes with digital coupon
Underlying index:	S&P 500
Amount:	$3,567,000
Maturity:	March 3, 2021
Price:	Par
Payout at maturity:	If index gains, par plus greater of 42% digital coupon and index return; if index falls but remains at or above barrier level, par; otherwise exposure to losses
Initial index level:	1,987.66
Barrier level:	1,490.75, 75% of initial level
Pricing date:	Aug. 27
Settlement date:	Aug. 31
Underwriter:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78012KFW2

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