New Issue: RBC sells $12.19 million 12.15% fixed-coupon barrier notes tied to Tesla

Chicago, March 8 – Royal Bank of Canada priced $12.19 million of 12% fixed-coupon barrier notes due Jan. 30, 2023 tied to the shares of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

At maturity investors will receive par unless the stock finishes below its 50% barrier price, in which case investors will be fully exposed to the decline in the stock price.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Fixed-coupon barrier notes
Underlying stock:	Tesla, Inc.
Amount:	$12,191,000
Maturity:	Jan. 30, 2023
Coupon:	12% per year, payable monthly
Price:	Par
Payout at maturity:	Par unless stock finishes below barrier level, in which case full exposure to loss of stock
Initial price:	$880.80
Barrier level:	$440.40, 50% of initial levels
Pricing date:	Jan. 25
Settlement date:	Jan. 28
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016E2B2

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