New Issue: RBC prices $4.05 million geared buffered enhanced return notes linked to Russell

By William Gullotti

Buffalo, N.Y., July 26 – Royal Bank of Canada priced $4.05 million of 0% geared buffered enhanced return notes due Feb. 24, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, capped at par plus 24.3%.

Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that the index declines beyond 20%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Geared buffered enhanced return notes
Underlying index:	Russell 2000 index
Amount:	$4.05 million
Maturity:	Feb. 24, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 1.5 times index return, capped at 24.3%; par if index declines by 20% or less; otherwise, 1.25% loss for every 1% that index declines beyond 20%
Initial index level:	1,984.886
Buffer level:	1,587.909; 80% of initial level
Strike date:	July 19
Pricing date:	July 20
Settlement date:	July 25
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78016NQH3

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