New Issue: RBC sells $1.72 million geared buffered enhanced return notes on Russell

By Sarah Lizee

Olympia, Wash., June 20 – Royal Bank of Canada priced $1.72 million of 0% geared buffered enhanced return notes due Dec. 24, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus 1.5 times the index gain, up to a maximum return of $1,270 per $1,000 of notes.

If the index falls by up to 20%, the payout will be par.

Otherwise, investors will lose 1.25% for each 1% index decline beyond 20%.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Geared buffered enhanced return notes
Underlying index:	Russell 2000
Amount:	$1,715,000
Maturity:	Dec. 24, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus 1.5 times the index gain, up to a maximum return of $1,270 per $1,000 of notes; if index falls by up to 20%, par; 1.25% loss for each 1% index decline beyond 20%
Initial level:	1,693.446
Barrier level:	1,354.757, 80% of initial level
Pricing date:	June 19
Settlement date:	June 22
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78013XMZ8

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