New Issue: RBC prices $3.64 million buffered enhanced return notes linked to MSCI index

By William Gullotti

Buffalo, N.Y., Feb. 5 – Royal Bank of Canada priced $3.64 million of 0% buffered enhanced return notes due Aug. 4, 2025 linked to the MSCI Emerging Markets 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 150% of the return, capped at par plus 22%.

Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that the index declines beyond 15%.

RBC Capital Markets, LLC is the selling agent.

Issuer:	Royal Bank of Canada
Issue:	Buffered enhanced return notes
Underlying index:	MSCI Emerging Markets index
Amount:	$3,644,000
Maturity:	Aug. 4, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 150% of index return, capped at par plus 22%; par if index declines by 15% or less; 1% loss for every 1% of index decline beyond 15%
Initial level:	980.59
Buffer level:	833.5; 85% of initial level
Pricing date:	Jan. 30
Settlement date:	Feb. 2
Selling agent:	RBC Capital Markets, LLC
Fees:	0.25%
Cusip:	78017FB85

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