New Issue: RBC prices $579,000 9.25% reverse convertible notes on VanEck Vectors Gold Miners

By Wendy Van Sickle

Columbus, Ohio, Sept. 24 – Royal Bank of Canada priced $579,000 of 9.25% reverse convertible notes due Sept. 23, 2021 tied to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the ETF falls by 30% or more, in which case investors will be fully exposed to the decline of the ETF.

RBC Capital Markets, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Reverse convertible notes
Underlying ETF:	VanEck Vectors Gold Miners ETF
Amount:	$579,000
Maturity:	Sept. 23, 2021
Coupon:	9.25%, payable monthly
Price:	Par
Payout at maturity:	Par unless ETF falls below barrier price, in which case investors will be fully exposed to the decline of the ETF
Initial share price:	$41.36
Barrier price:	$28.95, 70% of initial price
Pricing date:	Sept. 18
Settlement date:	Sept. 23
Agent:	RBC Capital Markets, LLC
Fees:	1%
Cusip:	78015KVM3

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