New Issue: RBC prices $12.63 million Accelerated Return Notes on basket of financial stocks

By Wendy Van Sickle

Columbus, Ohio, July 31 – Royal Bank of Canada priced $12.63 million of 0% Accelerated Return Notes due Sept. 25, 2020 linked to a basket of three financial stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the common stocks of Citigroup Inc. with a 33.33% weight, JPMorgan Chase & Co. with a 33.33% weight and Morgan Stanley with a 33.34% weight.

The payout at maturity will be par of $10 plus triple any basket gain, subject to a maximum return of 21.9%. Investors will be exposed to any basket decline.

BofA Merrill Lynch is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Accelerated Return Notes
Underlying basket:	Citigroup Inc. (33.33% weight), JPMorgan Chase & Co. (33.33% weight) and Morgan Stanley (33.34% weight)
Amount:	$12,625,320
Maturity:	Sept. 25, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any basket gain, subject to a maximum return of 21.9%; full exposure to any basket decline
Initial index levels:	$71.39 for Citigroup, $115.71 for JPMorgan, $44.87 for Morgan Stanley
Pricing date:	July 25
Settlement date:	Aug. 1
Underwriters:	BofA Merrill Lynch
Fees:	2%
Cusip:	78013Y494

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