New Issue: RBC prices $1.91 million capped trigger gears linked to Russell 2000

By Sarah Lizee

Olympia, Wash., July 16 – Royal Bank of Canada priced $1.91 million of 0% capped trigger gears due July 20, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par of $10 plus two times the index return, subject to a maximum return of 28.5%. Investors will receive par if the index declines by 25% or less and have one-to-one exposure to the index’s decline from its initial level if it declines by more than 25%.

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

Issuer:	Royal Bank of Canada
Issue:	Capped trigger gears
Underlying index:	Russell 2000
Amount:	$1,912,190
Maturity:	July 20, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is greater than zero, par plus two times index return, subject to 28.5% maximum return; par if index declines by 25% or less; full exposure to index’s decline from initial level if index declines by more than 25%
Initial level:	1,478.27
Downside threshold:	1,108.703, or 75% of initial level
Pricing date:	July 15
Settlement date:	July 20
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	2.5%
Cusip:	78014K840

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