New Issue: RBC sells $1.12 million market-linked upside participation notes tied to Russell

By Taylor Fox

New York, Nov. 2 – Royal Bank of Canada priced $1.12 million of 0% market-linked securities –upside participation to a cap and fixed percentage buffered downside due July 5, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the index gain, up to a maximum of $1,140 per $1,000 of notes.

Investors will receive par if the basket falls by up to 10% and will be exposed to any losses beyond the buffer.

Wells Fargo Securities, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Market-linked securities –upside participation to a cap and fixed percentage buffered downside
Underlying index:	Russell 2000 index
Amount:	$1,124,000
Maturity:	July 5, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus the index gain, capped at $1,140 per $1,000 of notes; par if basket falls by up to 10%; 1% loss for each 1% decline beyond 10%
Initial level:	1,507.692
Buffer level:	1,356.9228, 90% of initial level
Pricing date:	Sept. 30
Settlement date:	Oct. 5
Agent:	Wells Fargo Securities LLC
Fees:	2.49%
Cusip:	78015KUD4

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