New Issue: RBC prices $15.89 million Accelerated Return Notes linked to MSCI EAFE

By Toni Weeks

San Luis Obispo, Calif., April 27 – Royal Bank of Canada priced $15.89 million of 0% Accelerated Return Notes due June 24, 2016 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus 300% of the index return, subject to a cap of 12.33%. If the final index level is less than the initial index level, investors will be fully exposed to the decline.

BofA Merrill Lynch is the agent.

Issuer:	Royal Bank of Canada
Issue:	Accelerated Return Notes
Underlying index:	MSCI EAFE
Amount:	$15,888,060
Maturity:	June 24, 2016
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, up to 12.33% maximum return; exposure to any index decline
Initial index level:	1,916.35
Final index level:	Average of index’s closing levels on five trading days ending June 21, 2016
Pricing date:	April 23
Settlement date:	April 30
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	78013B601

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