New Issue: RBC prices $1.94 million barrier enhanced return notes on biotech ETF

By Wendy Van Sickle

Columbus, Ohio, Jan. 11 – Royal Bank of Canada priced $1.94 million of barrier enhanced return notes due May 14, 2020 linked to the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any ETF gain, up to a maximum return of 90.75%.

Investors will receive par if the ETF falls by up to 20% and will be fully exposed to any decline if the ETF falls beyond 20%.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Barrier enhanced return notes
Underlying fund:	SPDR S&P Biotech ETF
Amount:	$1,943,000
Maturity:	May 14, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any ETF gain; par if ETF falls by up to 20%; full exposure to any decline if ETF falls beyond 20%
Initial level:	$65.75
Barrier level:	$52.60, 80% of initial level
Pricing date:	Jan. 10
Settlement date:	Jan. 13
Agent:	RBC Capital Markets, LLC
Fees:	3.25%
Cusip:	78012KYM3

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