New Issue: RBC prices $6.52 million capped gears linked to Russell

By Sarah Lizee

Olympia, Wash., April 30 – Royal Bank of Canada priced $6.52 million of 0% capped gears due June 30, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 19.41%.

Investors will lose 1% for each 1% index decline.

RBC Capital Markets, LLC and UBS Financial Services Inc. are the agents.

Issuer:	Royal Bank of Canada
Issue:	Capped gears
Underlying index:	Russell 2000 index
Amount:	$6,522,310
Maturity:	June 30, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 3 times any index gain, capped at par plus 19.41%; full exposure to losses
Initial level:	1,281.878
Pricing date:	April 27
Settlement date:	April 30
Agents:	RBC Capital Markets, LLC and UBS Financial Services Inc.
Fees:	2%
Cusip:	78014K675

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