New Issue: RBC prices $25,000 return enhanced notes linked to MSCI EAFE

By William Gullotti

Buffalo, N.Y., July 21 – Royal Bank of Canada priced $25,000 of 0% return enhanced notes due Aug. 31, 2023 linked 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 300% of the return, subject to a maximum payout of par plus 17.5%.

Investors will be fully exposed to any index decline.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Return enhanced notes
Underlying index:	MSCI EAFE index
Amount:	$25,000
Maturity:	Aug. 31, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 300% of index return, capped at par plus 17.5%; otherwise, full exposure to any index decline
Initial level:	1,896.13
Pricing date:	June 27
Settlement date:	June 30
Agent:	RBC Capital Markets, LLC
Fees:	2.25%
Cusip:	78016FM84

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