New Issue: RBC sells $920,000 fixed-coupon barrier notes tied to Schlumberger

Chicago, Jan. 27 – Royal Bank of Canada priced $920,000 12.5% fixed coupon barrier notes due Feb. 25, 2022 tied to the common stock of Schlumberger Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable at maturity.

At maturity investors will receive par plus the coupon unless the stock finishes below its 65% barrier price, in which case investors will be fully exposed to the decline in the stock price.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Fixed-coupon barrier notes
Underlying stock:	Schlumberger Ltd.
Amount:	$920,000
Maturity:	Feb. 25, 2022
Coupon:	12.5% per year, payable at maturity
Price:	Par
Payout at maturity:	Par plus coupon unless stock finishes below barrier level, in which case full exposure to loss of stock
Initial price:	$24.19
Barrier level:	$15.72, 65% of initial levels
Pricing date:	Jan. 21
Settlement date:	Jan. 26
Agent:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78016E2P1

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