New Issue: RBC prices $4.01 million capped gears linked to S&P 500

By William Gullotti

Buffalo, N.Y., Dec. 21 – Royal Bank of Canada priced $4.01 million of 0% capped gears due Feb. 21, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 22%.

Investors will be fully exposed to any index decline.

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

Issuer:	Royal Bank of Canada
Issue:	Capped gears
Underlying index:	S&P 500 index
Amount:	$4,007,550
Maturity:	Feb. 21, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus three times any index gain, capped at par plus 22%; full exposure to losses
Initial level:	3,895.75
Pricing date:	Dec. 15
Settlement date:	Dec. 20
Agents:	RBC Capital Markets, LLC and UBS Financial Services Inc.
Fees:	2%
Cusip:	78016G409

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