New Issue: RBC prices $2.99 million buffered enhanced absolute return notes on S&P

By Wendy Van Sickle

Columbus, Ohio, March 5 – Royal Bank of Canada priced $2.99 million of 0% buffered enhanced absolute return notes due March 3, 2027 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 125% of any gain of the index, subject to a maximum return of par plus 25%.

If the index falls by up to 15%, the payout will be par plus the absolute value of the index return.

Investors will lose 1% for each 1% that the index decreases by more than 15%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced absolute return notes
Underlying index:	S&P 500 index
Amount:	$2,993,000
Maturity:	March 3, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any gain of index, capped at par plus 25%; if index falls by up to 15%, par plus the absolute value of that index’s return; otherwise, 1% loss for each 1% of index decline below 15%
Initial index level:	5,069.53
Buffer levels:	4,309.1; 85% of initial level
Pricing date:	Feb. 26
Settlement date:	Feb. 29
Agent:	RBC Capital Markets, LLC
Fees:	2.292%
Cusip:	78017FEJ8

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