New Issue: RBC prices $4.18 million market-linked step-up notes on Euro Stoxx 50

By Kiku Steinfeld

Chicago, Dec. 31 – Royal Bank of Canada priced $4.18 million of 0% market-linked step-up notes due Dec. 22, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index increases above the step-up value, 115.1% of the initial value, the payout at maturity will be par plus any gain in the index.

If the index is flat or increases up to the step-up value, the payout will be par plus a fixed return of 15.1%.

Investors will be exposed to any declines in the index.

BofA Securities, Inc. is the agent.

Issuer:	Royal Bank of Canada
Issue:	Market-linked step-up notes
Underlying index:	Euro Stoxx 50
Amount:	$4,176,250
Maturity:	Dec. 22, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 15.1%; exposure to any decline
Initial level:	3,539.26
Step-up value:	4,110.85, 115.1% of initial level
Pricing date:	Dec. 23
Settlement date:	Dec. 31
Underwriter:	BofA Securities, Inc.
Fees:	2%
Cusip:	78014T734

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