New Issue: RBC prices $2.64 million trigger gears linked to S&P, Russell

By William Gullotti

Buffalo, N.Y., Jan. 4 – Royal Bank of Canada priced $2.64 million of 0% trigger gears due Dec. 31, 2026 linked to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index’s return is greater than zero, the payout at maturity will be par of $10 plus 1.32 times the return of the least performing index.

If any index declines up to 25%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

RBC Capital Markets, LLC is the agent with UBS Financial Services Inc. acting as the placement agent.

Issuer:	Royal Bank of Canada
Issue:	Trigger gears
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$2,643,000
Maturity:	Dec. 31, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If each index return is greater than zero, par plus 1.32 times the least performing index’s return; par if any index declines by 25% or less; otherwise, full exposure to worst performer decline from initial level
Initial levels:	4,786.35 for S&P, 2,246.505 for Russell
Downside thresholds:	3,589.76 for S&P, 1,684.879 for Russell; 75% of initial levels
Pricing date:	Dec. 28
Settlement date:	Dec. 31
Agent:	RBC Capital Markets, LLC with UBS Financial Services Inc. as placement agent
Fees:	3.5%
Cusip:	78016C200

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