This is a high-value ceramic capacitor, specifically the CAP CER 470PF 500V X7R 1206. It has a capacitance value of 470 picofarads and is rated for 500 volts with a tolerance of ±5 percent. The designation "X7R" indicates that it falls within the X7R category of ceramic capacitors, which are known for their high dielectric constant and low loss properties.