New Issue: RBC sells $8.89 million absolute return barrier notes on index basket

By Sarah Lizee

Olympia, Wash., Dec. 12 – Royal Bank of Canada priced $8.89 million of 0% absolute return barrier notes due Dec. 8, 2021 linked to a basket consisting of the MSCI EAFE index and MSCI Emerging Markets index, equally weighted, according to a 424B2 filing with the Securities and Exchange Commission.

If the basket finishes above the initial level, the payout at maturity will be par plus the gain up to a maximum return of 50%.

If the basket falls by up to 25%, the payout will be par plus the absolute value of the return.

Otherwise, investors will lose 1% for each 1% decline.

RBC Capital Markets LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Absolute return barrier notes
Underlying basket:	MSCI EAFE index and MSCI Emerging Markets index
Amount:	$8,892,000
Maturity:	Dec. 8, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If basket gains, par plus return capped at 50%; if basket falls by up to barrier, par plus absolute return; otherwise, 1% loss per 1% decline
Initial levels:	1,758.35 for EAFE, 978.93 for EM
Barrier levels:	75% of initial levels
Pricing date:	Dec. 6
Settlement date:	Dec. 11
Agent:	RBC Capital Markets, LLC
Fees:	2.5%
Cusip:	78013XTS7

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