New Issue: RBC prices $7.64 million 9.15% geared buffered notes linked to Russell, Nasdaq

By William Gullotti

Buffalo, N.Y., July 7 – Royal Bank of Canada priced $7.64 million of 9.15% geared buffered notes due Sept. 1, 2023 linked to the worst performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless either index finishes below its buffer level, 80% of the initial price, in which case investors will lose 1.25% for every 1% decline of the worst performing index beyond the 20% buffer.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Geared buffered notes
Underlying indexes:	Russell 2000 index, Nasdaq-100 index
Amount:	$7,635,000
Maturity:	Sept. 1, 2023
Coupon:	9.15% annualized, payable monthly
Price:	Par
Payout at maturity:	Par unless either index falls below buffer level, in which case investors will lose 1.25% for every 1% decline of worst performing index beyond 20%
Initial levels:	1,719.37 for Russell, 11,658.26 for Nasdaq
Buffer levels:	1,375.496 for Russell, 10,134.81 for Nasdaq; 80% of initial levels
Strike date:	June 29
Pricing date:	June 30
Settlement date:	July 6
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78016FN59

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