New Issue: RBC prices $14.42 million trigger callable yield notes on S&P 500 index

By Wendy Van Sickle

Columbus, Ohio, Dec. 8 – Royal Bank of Canada priced $14.42 million of 6.26% trigger callable yield notes due Dec. 7, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes are callable at par of $10 on any monthly call date after three months.

The payout at maturity will be par unless the index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the index.

UBS Financial Services Inc. and RBC Capital Markets, LLC are the agents.

Issuer:	Royal Bank of Canada
Issue:	Trigger callable yield notes
Underlying index:	S&P 500 index
Amount:	$14,415,610
Maturity:	Dec. 7, 2023
Coupon:	6.26% per year, payable monthly
Price:	Par of $10
Payout at maturity:	Par unless index finishes below downside threshold, in which case 1% loss for each 1% decline of index
Call option:	At par on any coupon date starting in March
Initial level:	4,538.43
Downside threshold:	2,723.06, 60% of initial level
Pricing date:	Dec. 3
Settlement date:	Dec. 8
Underwriter:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	0%
Cusip:	78014U871

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