New Issue: RBC prices $3.85 million geared buffered enhanced return notes linked to Russell

By Angela McDaniels

Tacoma, Wash., April 16 – Royal Bank of Canada priced $3.85 million of 0% geared buffered enhanced return notes due Oct. 15, 2021 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 150% of the index return, subject to a maximum redemption amount of $1,270 per $1,000 principal amount of notes. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that the index may 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:	$3.85 million
Maturity:	Oct. 15, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 150% of index return, up to maximum return of 27%; par if index declines by 20% or less; 1.25% loss for every 1% that index may decline beyond 20%
Initial index level:	1,584.802
Pricing date:	April 12
Settlement date:	April 17
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78013X5M6

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