New Issue: RBC prices $965,000 autocallable barrier notes linked to MSCI EM

By Kiku Steinfeld

Chicago, Jan. 24 – Royal Bank of Canada priced $965,000 of 0% autocallable barrier notes due Jan. 3, 2025 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a premium of 9.3% per year if the index closes at or above its initial level on any annual observation date.

The payout will be par unless the index finishes below its 80% barrier level, in which case investors will lose 1% for each 1% decline of the index from its initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Autocallable barrier notes
Underlying index:	MSCI Emerging Markets index
Amount:	$965,000
Maturity:	Jan. 3, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless index finishes below barrier level, in which case full exposure to losses
Call:	Automatically at par plus call premium of 9.3% per year if index closes at or above initial level on any annual observation date
Initial level:	1,222.75
Barrier level:	978.20, or 80% of initial level
Pricing date:	Dec. 30
Settlement date:	Jan. 4
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016FBL7

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