New Issue: RBC prices $14.86 million Accelerated Return Notes tied to three financial stocks

By Wendy Van Sickle

Columbus, Ohio, Nov. 1 – Royal Bank of Canada priced $14.86 million of 0% Accelerated Return Notes due Dec. 22, 2017 linked to a basket of three equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley.

The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 19.65%.

Investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

Issuer:	Royal Bank of Canada
Issue:	Accelerated Return Notes
Underlying basket:	Citigroup Inc. (NYSE: C), JPMorgan Chase & Co. (NYSE: JPM) and Morgan Stanley (NYSE: MS), equally weighted
Amount:	$14,857,130
Maturity:	Dec. 22, 2017
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus 300% of any basket gain, capped at 19.65%; 1% loss for each 1% decline
Initial stock levels:	$49.93 for Citigroup, $69.23 for JPMorgan, $33.82 for Morgan Stanley
Pricing date:	Oct. 27
Settlement date:	Nov. 3
Underwriters:	Merrill Lynch & Co.
Fees:	2%
Cusip:	78014F403

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