New Issue: RBC sells $4.2 million capped buffer in-gears linked to S&P, Russell

By Marisa Wong

Morgantown, W.Va., Feb. 22 – Royal Bank of Canada priced $4.2 million of 0% capped buffer in-gears due Oct. 4, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the lesser-performing index is greater than negative 13%, the payout at maturity will be par of $10 plus 1.12 times the sum of the lesser-performing index’s return plus 13%, subject to a maximum return of 44.8%.

If the return of the lesser-performing index is less than negative 13%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 13%.

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

Issuer:	Royal Bank of Canada
Issue:	Capped buffer in-gears
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$4.2 million
Maturity:	Oct. 4, 2021
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If lesser-performing index’s return is greater than negative 13%, par plus 1.12 times sum of lesser-performing index’s return plus 13%, subject to 44.8% maximum return; if lesser-performing index’s return is less than negative 13%, 1% loss for every 1% that lesser-performing index declines beyond 13%
Initial index levels:	2,698.63 for S&P 500 and 1,522.096 for Russell 2000
Pricing date:	Feb. 14
Settlement date:	Feb. 21
Agents:	UBS Financial Services Inc. and RBC Capital Markets, LLC
Fees:	1%
Cusip:	78013Q442

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