New Issue: RBC sells $558,000 market-linked leveraged upside participation notes on biotech ETF

By Taylor Fox

New York, Nov. 23 – Royal Bank of Canada priced $558,000 of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due May 4, 2023 linked to the SPDR S&P biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 125% of any gain, up to a maximum of $1,260 per note.

Investors will receive par if the fund falls by up to 10% and will be exposed to any losses beyond the buffer.

Wells Fargo Securities, LLC is the agent.

Issuer:	Royal Bank of Canada
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying fund:	SPDR S&P biotech ETF
Amount:	$558,000
Maturity:	May 4, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any gain, capped at $1,260 per note; par if fund falls by up to 10%; 1% loss for each 1% decline beyond 10%
Initial level:	$112.77
Buffer level:	$101.493, 90% of initial level
Pricing date:	Oct. 30
Settlement date:	Nov. 4
Agent:	Wells Fargo Securities LLC
Fees:	2.68%
Cusip:	78016EBK2

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