New Issue: RBC sells $1.1 million capped gears due 2018 tied to Energy Select SPDR

By Susanna Moon

Chicago, Dec. 1 – Royal Bank of Canada priced $1.1 million of 0% capped gears due Jan. 31, 2018 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any fund gain, up to a maximum return of 25%.

Investors will be exposed to any losses.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Capped gears
Underlying fund:	Energy Select Sector SPDR fund
Amount:	$1,114,300
Maturity:	Jan. 31, 2018
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 3 times any fund gain, capped at 25%; exposure to any losses
Initial level:	$71.71
Pricing date:	Nov. 28
Settlement date:	Nov. 30
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	0.5%
Cusip:	78014C673

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