New Issue: RBC sells $6.24 million capped trigger gears on Russell 2000 index

By William Gullotti

Buffalo, N.Y., April 29 – Royal Bank of Canada priced $6.24 million of capped trigger gears due April 30, 2025 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 double the index return, subject to a maximum payout of par plus 40.5%.

Investors will receive par if the index declines by 25% or less and be fully exposed 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 index
Amount:	$6,244,780
Maturity:	April 30, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus two times any index gain, capped at par plus 40.5%; par if index declines by 25% or less; otherwise, full exposure to index decline from initial level
Initial level:	1,890.475
Downside threshold:	1,417.856; 75% of initial level
Pricing date:	April 26
Settlement date:	April 29
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	None
Cusip:	78016C697

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