New Issue: RBC prices $540,000 4% issuer callable barrier notes linked to S&P 500

By Marisa Wong

Los Angeles, Oct. 1 – Royal Bank of Canada priced $540,000 of 4% issuer callable barrier notes due Dec. 23, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes are callable at par on any coupon payment date beginning in December.

The payout will be par unless the index closes below its 50% barrier level on any day during the life of the notes, in which case investors will lose 1% for each 1% decline of the index from its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Issuer callable barrier notes
Underlying index:	S&P 500 index
Amount:	$540,000
Maturity:	Dec. 23, 2021
Coupon:	4%, payable monthly
Price:	Par
Payout at maturity:	Par unless index closes below its barrier level on any day during the life of the notes, in which case full exposure to losses
Call option:	At par on any coupon payment date after three months
Initial level:	3,319.47
Barrier level:	1,659.74, or 50% of initial level
Pricing date:	Sept. 18
Settlement date:	Sept. 23
Agent:	RBC Capital Markets, LLC
Fees:	0.6%
Cusip:	78015KXZ2

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