New Issue: RBC prices $1.43 million return enhanced notes linked to a basket of stocks

By William Gullotti

Buffalo, N.Y., Sept. 26 – Royal Bank of Canada priced $1.43 million of 0% return enhanced notes due Nov. 25, 2024 linked to an equally weighted basket of stocks consisting of Costco Wholesale Corp., Lowe’s Cos., Inc. and TJX Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the basket return is positive, the payout at maturity will be par plus 300% of the return, capped at par plus 19.15%.

Investors will be fully exposed to any basket decline.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Return enhanced notes
Underlying stocks:	Costco Wholesale Corp., Lowe’s Cos., Inc. and TJX Cos., Inc.; equal weights
Amount:	$1.43 million
Maturity:	Nov. 25, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If basket return is positive, par plus 300% of basket return, capped at par plus 19.15%; otherwise, full exposure to any basket decline
Initial levels:	$563.83 for Costco, $214.91 for Lowe’s, $90.66 for TJX
Pricing date:	Sept. 20
Settlement date:	Sept. 25
Agent:	RBC Capital Markets, LLC
Fees:	1.25%
Cusip:	78016ND46

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