New Issue: RBC prices $37.1 million buffered digital notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Oct. 12 – Royal Bank of Canada priced $37.1 million of 0% buffered digital notes due Oct. 9, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 31.6% if the index finishes at or above its initial level.

If the index finishes below the initial level but finishes at or above its 83% buffer, investors will receive par.

Otherwise, investors will lose 1% for every 1% decline beyond 17%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered digital notes
Underlying index:	S&P 500 index
Amount:	$37,097,000
Maturity:	Oct. 9, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 31.6% if index finishes at or above initial level; if index finishes below initial level but at or above buffer, par; otherwise, lose 1% for every 1% decline beyond 17%
Initial level:	4,308.5
Buffer level:	3,576.06; 83% of initial level
Pricing date:	Oct. 6
Settlement date:	Oct. 12
Agent:	RBC Capital Markets, LLC
Fees:	0.1%
Cusip:	78016NF77

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