New Issue: RBC prices $1 million 8.25% barrier income notes linked to index, ETF

By William Gullotti

Buffalo, N.Y., Dec. 20 – Royal Bank of Canada priced $1 million of 8.25% barrier income notes due Dec. 15, 2023 linked to the lesser performing of the iShares MSCI EAFE ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Coupon will be payable monthly.

Investors will receive par if the lesser-performing underlier declines by 45% or less.

Otherwise, investors will lose 1% for every 1% that the lesser-performing underlier declines from initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier income notes
Underlying assets:	Russell 2000 index, iShares MSCI EAFE ETF
Amount:	$1,001,000
Maturity:	Dec. 15, 2023
Coupon:	8.25% per year, payable monthly
Price:	Par
Payout at maturity:	Par if each underlier finishes at or above barrier level; otherwise, full exposure to losses of worst performer
Initial levels:	1,818.614 for index, $67.11 for ETF
Barrier levels:	1,000.238 for index, $36.91 for ETF; 55% of initial levels
Strike date:	Dec. 12
Pricing date:	Dec. 14
Settlement date:	Dec. 19
Agent:	RBC Capital Markets, LLC
Fees:	0.2%
Cusip:	78016HGJ3

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