New Issue: RBC sells $150,000 callable contingent coupon barrier notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Nov. 1 – Royal Bank of Canada priced $150,000 of contingent coupon barrier notes due Nov. 2, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a semiannual contingent coupon at the rate of 6.3% per year if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that period.

The payout at maturity will be par unless the lesser-performing index finishes below its trigger level, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Contingent coupon barrier notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$150,000
Maturity:	Nov. 2, 2023
Coupon:	6.3% per year, payable semiannually if each index closes at or above trigger level on observation date for that period
Price:	Par
Payout at maturity:	Par unless lesser-performing index finishes below trigger level, in which 1% loss for every 1% that lesser-performing index declines from initial level
Initial index levels:	2,641.25 for S&P 500 and 1,477.306 for Russell 2000
Trigger levels:	1,848.88 for S&P 500 and 1,034.114 for Russell 2000; 70% of initial levels
Pricing date:	Oct. 29
Settlement date:	Oct. 31
Underwriter:	RBC Capital Markets, LLC
Fees:	2.75%
Cusip:	78013XP85

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