New Issue: RBC prices $4.95 million geared buffered notes linked to S&P, Russell

By Taylor Fox

New York, Feb. 22 – Royal Bank of Canada priced $4.95 million of 5.55% geared buffered notes due Feb. 14, 2022 linked to the worst performing of the S&P 500 index and the Russell 2000 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 finishes below its geared buffer level, 80% of the initial price, in which case investors will lose 1.25% for every 1% decline of the worst performing index beyond the 20% buffer.

RBC Capital Markets, LLC is the underwriter.

Issuer:	Royal Bank of Canada
Issue:	Geared buffered notes
Underlying indexes:	S&P 500 index and the Russell 2000 index
Amount:	$4,950,000
Maturity:	Feb. 14, 2022
Coupon:	5.55%, payable monthly
Price:	Par
Payout at maturity:	Par unless either index falls below geared buffer level, in which case investors will lose 1.25% for every 1% drop of worst performing index beyond 20%
Initial prices:	3,911.23 for S&P and 2,298.998 for Russell
Buffer prices:	3,128.98 for S&P and 1,839.198 for Russell; 80% of initial prices
Pricing date:	Feb. 10
Settlement date:	Feb. 16
Underwriter:	RBC Capital Markets, LLC
Fees:	None
Cusip:	78016EDG9

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