New Issue: RBC sells $2.86 million partial principal at risk notes on MSCI Europe

By Wendy Van Sickle

Columbus, Ohio, Jan. 8 – Royal Bank of Canada priced $2.86 million of 0% partial principal at risk securities due Jan. 5, 2021 tied to the MSCI Europe index, according to a 424B2 with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 1.27 times any index gain.

If the index finishes flat or declines, investors will receive par plus the index return, subject to a minimum payout of $9.50 per note.

RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management handling distribution.

Issuer:	Royal Bank of Canada
Issue:	Partial principal at risk securities
Underlying index:	MSCI Europe
Amount:	$2,864,180
Maturity:	Jan. 5, 2021
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.27 times any index gain; if index falls, par plus the index return subject to minimum payout of $9.50
Initial index level:	113.72
Pricing date:	Dec. 28
Settlement date:	Jan. 4
Agent:	RBC Capital Markets, LLC
Distribution:	Morgan Stanley Smith Barney LLC
Fees:	2.5%
Cusip:	78014G872

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