New Issue: RBC prices $21.58 million contingent buffered digital plus notes linked to Stoxx Banks

By Wendy Van Sickle

Columbus, Ohio, July 30 – Royal Bank of Canada priced $21.58 million of 0% contingent buffered digital plus notes due July 31, 2024 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus the greater of the index return and 40.7%. If the index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Contingent buffered digital plus notes
Underlying index:	Euro Stoxx Banks
Amount:	$21,575,000
Maturity:	July 31, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than or equal to initial level, par plus greater of index return and 40.7%; par if index falls by up to buffer level; otherwise, 1.1111% loss for every 1% that index declines beyond 10%
Initial level:	92.51
Buffer level:	90% of initial level
Pricing date:	July 27
Settlement date:	Aug. 3
Underwriter:	RBC Capital Markets, LLC
Fees:	2.6%
Cusip:	78016ELZ8

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