New Issue: RBC prices $2.38 million digital plus barrier notes linked to S&P, Russell, Dow

By William Gullotti

Buffalo, N.Y., May 7 – Royal Bank of Canada priced $2.38 million of 0% digital plus barrier notes due May 4, 2028 tied to the performance of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be the greater of par plus the laggard index’s return and par plus the 49.4% digital return.

Investors will receive par if the worst performer declines by no more than 25% and will be fully exposed to the decline of the laggard index if it finishes below its 75% barrier level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Digital plus barrier notes
Underlying indexes:	S&P 500 index, Russell 2000 index, Dow Jones industrial average
Amount:	$2,384,000
Maturity:	May 4, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above initial level, the greater of par plus the laggard index’s return and par plus 49.4%; par if laggard index falls by no more than 25%; otherwise, full exposure to decline of laggard index from initial level
Initial levels:	37,903.29 for Dow, 5,018.39 for S&P, 1,980.229 for Russell
Barrier levels:	28,427.47 for Dow, 3,763.79 for S&P, 1,485.172 for Russell; 75% of initial levels
Pricing date:	May 1
Settlement date:	May 6
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78017FU50

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