New Issue: RBC prices $3.63 million geared buffered reverse convertible notes on index, ETF

By Marisa Wong

Morgantown, W.Va., June 4 – Royal Bank of Canada priced $3.63 million of 5.3% geared buffered reverse convertible notes due Sept. 5, 2019 linked to the worse performing of the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless either asset falls by more than the 20% buffer, in which case investors will lose 1.25% for each 1% that the lesser performing asset falls beyond 20%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Geared buffered reverse convertible notes
Underlying assets:	Russell 2000 index, iShares MSCI EAFE ETF
Amount:	$3,625,000
Maturity:	Sept. 5, 2019
Coupon:	5.3%, payable monthly
Price:	Par
Payout at maturity:	Par unless either asset falls by more than 20%, in which case 1.25% loss for each 1% loss beyond 20%
Initial levels:	1,633.609 for index, $69.40 for ETF
Buffer levels:	1,306.887 for index, $55.52 for ETF, 80% of initial levels
Pricing date:	June 1
Settlement date:	June 5
Agent:	RBC Capital Markets, LLC
Fees:	5.3%
Cusip:	78013XLV8

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