New Issue: RBC prices $3.03 million geared buffered reverse convertible notes on Russell, Nasdaq

By Sarah Lizee

Olympia, Wash., Dec. 24 – Royal Bank of Canada priced $3.03 million of 5% geared buffered reverse convertible notes due Dec. 10, 2020 linked to the worse performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

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

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Geared buffered reverse convertible notes
Underlying indexes:	Russell 2000 index, Nasdaq-100 index
Amount:	$3,025,000
Maturity:	Dec. 10, 2020
Coupon:	5%, payable monthly
Price:	Par
Payout at maturity:	Par unless either index falls by more than 20%, in which case 1.25% loss for each 1% that the lesser performing index falls beyond 20%
Initial levels:	1,633.837 for Russell, 8,397.367 for Nasdaq
Buffer levels:	1,307.070 for Russell, 6,717.894 for Nasdaq, 80% of initial levels
Pricing date:	Dec. 9
Settlement date:	Dec. 12
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78015KGM0

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