New Issue: RBC prices $6.68 million autocallable geared buffered notes on MSCI EAFE, Russell

Chicago, Aug. 14 – Royal Bank of Canada priced $6.68 million of 7.85% autocallable geared buffered notes due Jan. 30, 2025 linked to the lesser performing of the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable semiannually.

The notes will be called at par plus the coupon if each asset closes at or above its initial level on any semiannual valuation date.

If each asset finishes at or above its 75% buffer level, the payout will be par plus the coupon.

Otherwise, investors will lose 1% for every 1% decline of the worst performing asset beyond 25% (and the coupon).

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Autocallable geared buffered notes
Underlying assets:	Russell 2000 index and iShares MSCI EAFE ETF
Amount:	$6,679,000
Maturity:	Jan. 30, 2025
Coupon:	7.85% annual rate, payable semiannually
Price:	Par
Payout at maturity:	Par plus coupon if each asset finishes at or above buffer level; otherwise, 1% loss for every 1% decline of laggard asset beyond 25%
Call:	Automatically at par plus coupon if each asset closes at or above its initial level on any semiannual valuation date
Initial asset level:	1,980.355 for Russell, $74.08 for iShares MSCI EAFE
Buffer level:	1,485.266 for Russell, $55.56 for iShares MSCI EAFE, 75% of initial levels
Pricing date:	July 27
Settlement date:	Aug. 1
Underwriter:	RBC Capital Markets, LLC
Fees:	0.05%
Cusip:	78016NRL3

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