New Issue: RBC prices $7.04 million leveraged buffered notes on MSCI EAFE

Chicago, May 10 – Royal Bank of Canada priced $7.04 million of 0% leveraged buffered index-linked notes due Sept. 23, 2022 tied to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 1.5 times the index gain, subject to a maximum return of $1,211.50 per $1,000 note.

Investors will receive par if the index falls by up to 5% and will share in losses at a rate of 1.0526% per 1% drop beyond the 5% buffer.

RBC Capital Markets, LLC. is the agent.

Issuer:	Royal Bank of Canada
Issue:	Leveraged buffered index-linked notes
Underlying index:	MSCI EAFE
Amount:	$7,042,000
Maturity:	Sept. 23, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 150% of index gain, capped at $1,211.50 per note; par if index falls by up to 5%; 1.0526% loss for every 1% decline beyond 5% buffer
Initial level:	2,231.46
Buffer level:	95% of initial level
Pricing date:	March 22
Settlement date:	March 29
Agent:	RBC Capital Markets, LLC
Fees:	1.11%
Cusip:	78016EML8

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