New Issue: RBC prices $1 million 8.16% barrier income notes linked to index, ETF

By Wendy Van Sickle

Columbus, Ohio, April 10 – Royal Bank of Canada priced $1 million of 8.16% barrier income notes due April 9, 2025 linked to the lesser performing of the SPDR S&P Regional Banking 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 50% 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, SPDR S&P Regional Banking ETF
Amount:	$1,001,000
Maturity:	April 9, 2025
Coupon:	8.16% 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:	1,769.655 for index, $42.44 for ETF
Barrier levels:	884.828 for index, $21.22 for ETF; 50% of initial levels
Pricing date:	April 5
Settlement date:	April 11
Agent:	RBC Capital Markets, LLC
Fees:	0.4%
Cusip:	78016HY61

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