By Angela McDaniels
Tacoma, Wash., Aug. 1 – Royal Bank of Canada priced $2 million of 0% capped buffer in-gears due Dec. 22, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the lesser-performing index is greater than negative 6%, the payout at maturity will be par of $10 plus 1.86 times the sum of the lesser-performing index’s return plus 6%, subject to a maximum return of 55.8%.
If the return of the lesser-performing index is less than or equal to negative 6% but greater than or equal to negative 16%, the payout will be par.
If the return of the lesser-performing index is less than negative 16%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 16%.
UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.
| Issuer: | Royal Bank of Canada
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| Issue: | Capped buffer in-gears
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $2 million
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| Maturity: | Dec. 22, 2021
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If lesser-performing index’s return is greater than negative 6%, par plus 1.86 times sum of lesser-performing index’s return plus 6%, subject to 55.8% maximum return; if lesser-performing index’s return is less than or equal to negative 6% but greater than or equal to negative 16%, par; if lesser-performing index’s return is less than negative 16%, 1% loss for every 1% that lesser-performing index declines beyond 16%
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| Initial index levels: | 2,470.30 for S&P 500 and 1,425.144 for Russell 2000
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
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| Agents: | UBS Financial Services Inc. and RBC Capital Markets, LLC
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| Fees: | 0.75%
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| Cusip: | 78013F230
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