New Issue: RBC prices $2 million barrier income notes linked to S&P, Russell

Chicago, Sept. 2 – Royal Bank of Canada priced $2 million of 7.6% barrier income notes due Aug. 29, 2024 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Coupon will be payable monthly.

Investors will receive par if the lesser-performing index declines by 40% or less. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines from initial level.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier income notes
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$2,001,000
Maturity:	Aug. 29, 2024
Coupon:	7.6%, payable monthly
Price:	Par
Payout at maturity:	Par if both indexes close above barrier levels; otherwise, full exposure to losses of worst performer
Initial levels:	4,057.66 for S&P, 1,899.83 for Russell
Barrier levels:	2,434.6 for S&P, 1,139.898 for Russell; 60% of initial levels
Pricing date:	Aug. 29
Settlement date:	Sept. 1
Agent:	RBC Capital Markets, LLC
Fees:	0.4%
Cusip:	78016FSZ8

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